I have a 120" ALR projection screen, 4K UST projector, modular semi-circular couch that seats 12 and a decent sound system. I host ramen + movie nights where I make some ramen from scratch and we watch a sci-fi movie together. I also do video game nights where people come over to game on the big screen.

My setup is basically the same. Gaming on the 120" is pretty great.

Some people care about film and it's a hobby for them, some people don't. I'm sure for the people who care and their groups, it's more than just watching TV.