Yes, eye-contact in video chats is very important. The way this was done in the early days [circa late 1990's and early 2k](probably still today in more elaborate ways) in video conferencing was the use of a one way mirror at an angle, camera behind mirror and below the mirror the display screen projecting up. This presented the display and the camera at the same level as the eye level of those upon the display, making for a much more comfortable engagement. By that, have a chat with somebody and look at one of their eyebrows, this makes them uncomfortable and increases the number of times they blink as well. The difference of eye-level contact in video conferencing/chats makes the experience and interaction around the subject and not limited by the technology.
EDIT - the same trick for eye-level camera positioning is used for some autocue setups in Television studios.
EDIT - the same trick for eye-level camera positioning is used for some autocue setups in Television studios.