Lytro's ultimate, simplest goal is to turn the physical parts of the camera — the lens, the aperture, the shutter — into software. If it can do that, the camera hardware itself becomes secondary; it would take nothing more than a cheap lens and a sensor to build a light-field camera.
This is powerful. In fact, this is the first time someone has seriously re-imagined the camera. I am super excited about this. Plus, I am also excited that they are using HTML5 tech to make the re-focus etc happen, which is way better than when they launched the point and shoot.
The Lens Blur feature on the Google Camera is exciting in a similar fashion. It seems to be doing most of its work in software today and imagine if it can be accelerated and made more efficient with hardware features. Every Android device with a lens and a sensor can in turn become a light field device.
Super exciting times.