I think it will become accepted - there may need to be some etiquette established with it's use - not that that has happened with smart-phones.
Just imagine - if you do something stupid - someone might tape it and keep it in your face for ever - the Internet never forgets. ,.,.
What would you say to someone taping you with their Google-glass and you found it uncomfortable?
What do we say to our kids when we try to talk to them, but the TXTing keeps interrupting?
In the end we are still social creatures, wired to react to irrepressible facial and voice expressions. Even over the phone, I can sometimes tell if someone is lying to me by bits of stress in their voice (but harder with CODEX distortion and latency).
I suppose taping peoples conversations will either make people more honest or more angry.. but definitely less forthcoming - thus an anti-social effect.