“It is a big and very fundamental platform for Google,” Schmidt said. “We ended the Explorer program and the press conflated this into us canceling the whole project, which isn’t true. Google is about taking risks and there’s nothing about adjusting Glass that suggests we’re ending it.”
So it looks like we’ll see a more consumer ready Glass 2.0, possibly later this year. If this is a complete overhaul to make the controversial specs more inconspicuous, still remains to be seen.