Will AR/VR technology advance enough to mimic the reality?

This is mostly an opinionated topic and answers depend on how you feel about it.

To me, this will inevitably happen mainly because I see it as the next big channel for interacting with information after the Smartphone. Smartphones are exhausted as a technology. Since the last 2–3 years every new release adds either bigger screen, more powerful CPU/GPU, changes in UX, even fold-unfold but nothing new and disruptive. Or zero to one, if you wish.

There is evidence that tens of billions of $$$ are poured every year in this industry and giants like Facebook and Microsoft are betting heavily on the technology. Rumor has is that Apple is also cooking something exciting in this space.

For example, if we put it simply - Facebook wants to take its social networks and enable them in AR<->VR where only sky is the limit for social engagement. For this to happen they need a socially acceptable, light-weight device that offers human realistic image quality.

Microsoft are on the business side. They simply blew away all the competition in the enterprise sector with their HoloLens 2 release.

And this is not going to stop, its the opposite. With that said - yes, it will advance enough to mimic the reality as we know it today. It will go even beyond what we can imagine today.