The people who are genuinely concerned about shoulder surfing probably slapped on a privacy filter anyway. They're no different from a screen protector. What the S26 Ultra can do is cool and super useful for the few people who need it, but I'd bet that all the rest will just show it off as a cool party trick and nothing more.
I've seen this with laptops that came with integrated electronically controlled privacy filter. They were nice but eventually the added cost, complexity, and lowered image quality didn't make them a popular choice even for enterprise users. I think only HP still offers them from the big brands, Dell and Lenovo don't do it anymore.