I don't think that's true. Glass died because nobody could think of anything to do with it. Talk about "glassholes" dominated the conversation because there was no other subject to discuss. The explorer program was supposed to let people come up with cool ideas for applications and nobody ever did.
This is broadly true of wearables so far: nobody has come up with a use case for them more compelling than, "shave a few seconds off checking notifications on your phone."
It's possible they Google release another version when technology will be ready (better battery, camera, sound packed into much smaller form & size)