Will VR require an evolution to multi-threaded, super-positioned sensory processing?

This is related to the MIT announcement in Nov 2016 about wireless tech for VR — I believe 5G system. This new article goes into more detail about the problems of VR and 3 different scenarios.
I’m very curious about what we will MISS if we are in VR or Mixed Reality — so not aware of our physical reality [the physical world directly around us and potential interactions or missed/over-broadcast sensory information]. They have an image of two outlined people, but they may never know each other is there if they are both in VR/MR?
Privacy? Or is it something more than a new take on privacy? Would we essentially need to LEARN / evolve to handle PARALLEL / threaded / simultaneous realities?

If we pull it off, would we be psychic — not magically so, but basically able to distinguish between two competing realities. Could we train our brains/evolve to do this?