I think there would some weird psychological impact on having a hologram raise your child. The child would bond to the hologram and yet the hologram is not real.. and any continuation of the relationship once babysitting is no longer needed would require revisiting the hologram just to reconnect to a computer. I like my computer just find but I don't have a relationship with it. Surely it's going to be a lot worse than finding out Santa isn't real to find out the person who potty trained you and read to you and seemingly loved you isn't real.
I can't imagine this not screwing a kid up.