Pimax never played in that league. Pimax just suggest an interesting spec choice for an HMD we would instantly believe any Oculus, Valve etc. could also produce if they just wanted to.
Magic Leap teased the public to believe they have advanced tech nobody else is currently able to provide and will be a step beyond everybody else technically.
There is a fundamental difference between these two propositions.
And of course there may be more to the Magic Leap than the Magic Leap One can show today, and perhaps their true strength only shows down the stretch with a successor version - but for all the secrecy & hype they have not that much to show for today, and that should be a concern for those who invested heavily.