As a kid who grew up in 90’s I would say it is easily better than what cinema had back then.
I don’t have that high expectations of sound/video as many people will point out that streaming kills the quality but for all its worth still much better than what I need to enjoy a movie.
As you say with the image quality being as high at home now plus a decent surround system really makes the theater experience at home very enjoyable.
If you are in an urban area and are not a millionaire, you probably live in some kind of apartment or studio. And yes, you can stick up a projector and a good surround system... but it might be that the builder cut corners on the floors and your neighbors already come knocking when you are talking, much less turn up the audio system to a tenth of the sound pressure a good cinema sound system provides.
I don't have any of the problem - but I don't have "cinema sound system" as I mentioned whatever I have must have just clear sound and clear doesn't mean loud. I don't need "sound experience" to enjoy a movie.