High-fidelity telepresence here implying eye contact and 3D presence. Hard to get that without jumbling the data a bit in order to fly the photons in the right way.
I understood what you meant. You get the same eye contact and full representation of the person with video without having to resort to expensive/fancy stuff. If anything video is better because with virtual representation there is no way to tell if I am really talking to you or someone else using your virtual representation to pose as you.
You don't really get eye contact unless the person's video is in the same location as your camera, or you use software eyeball adjustments to turn "eyes looking down at screen" into "eyes looking at the camera" (see "FaceTime attention correction" setting).
And if you're in a zoom call with 4 people, you're looking equally at everyone when you look at the camera. You can't tell if someone is looking at you, you can't tell if someone is looking at someone else. VR avatars could actually look around to different people in a virtual meeting.