Oh man, I've been waiting for someone to figure out how to do this. Feels like the last critical piece of VR... "reality capture".
Imagine... - Experiencing a live feed of a skydiver/basejumper/surfer/other extreme sport, where you can look around naturally in 3D - A probe in space or on another planet - An immersive control system for robots - On and on. You can now tap into and share someone else's experience viscerally, either realtime or recorded.
This is basically Strange Days.
I'm less than impressed by 360 videos so far. I'll admit that I have seen only 2: bjork's stonemilker music video and Aram Pan's North Korea YPT tour video.
The North Korea video I appreciate more, because you can look all around a location that most people will never visit. However, with both videos, I feel like I am playing "where's Waldo" with the content. Having 360 degree videos is fine, but I feel like a "director's mode" on/off toggle seems to be needed for people who don't want to feel like they are missing something interesting. I don't have time to explore every last location in a video game, and similarly I don't have time to rewatch 360 degree videos just to check every angle for easter eggs.