Fractured Reality Through Augmentation?

If we’re heading towards a time when the average person is looking at the world through augmented reality overlays – mobile camera readers, HUD glasses, implants superimposing datas on the “real world” – how much of reality will still be shared? Will the building I see be the same as those around me? Will reality itself begin to fragment into inumerable niche channels? Is it already? What will this do to our sense of self & space? Is this any different than the existing degree of sub-genre-fication that divides our cultures through class & affiliation? How do local communities find strength amidst a rising tide of non-local belonging?