The discussion revolves around a YouTube video showcasing an impressive 3D effect that can be achieved at a low cost, particularly through the use of the Wiimote. Participants express excitement about the potential applications of this technology in various fields, including medical training. The conversation highlights that the effect can be replicated without needing the full Wii console, just the Wiimote and some additional components like infrared LEDs. Users mention the availability of these components at stores like Radio Shack and online retailers. The Wiimote's onboard processor is noted for its ability to track multiple points quickly, making it a preferred choice over other methods, such as modified webcams. There is also a sentiment of disappointment regarding Nintendo's lack of development on this technology, suggesting that it could boost Wii sales if properly utilized.