Dunno if it is dead.
But it is going to be hurting.
The theater experience is pretty unique and usually (in a decent theater) superior to the home streaming experience. It creates a level of immersion in the movie that you can’t have at home.
There movies I want to see in a theater.
The movies today, it’s hard to find any that aren’t filled with periods of filth!
I don’t know... a large enough home screen at a distance that fills the eyes with a decently intelligent home surround receiver that listens to the room and adapts the speakers to chosen parameters and now home Dolby atmos that gives the room a sense of “hugeness” or intimacy..what ever the scene calls for...that can be hard for modern multiplex cinemas to beat. The TV, speakers, subwoofers, and recievers if smartly shopped for can often be had for a thousand or less especially if bought from the return or demos for sale racks at Best Buy. Even if you opt only for a good speaker bar and sub, the modern current era speaker bar systems wit sub woofers compete very well with the discrete 5.2.1 or more speaker systems...especially in smaller viewing rooms.
I’m hoping for a renaissance in music recordings and remixes using the the new dolby atmos and Sony 360(which doesn’t need any special processor or headphones but sounds better thru headphones) processes. The few live recordings demos I’ve heard thru my system are fantastic in re-creating the performance spaces and ambiance. Universal studious was said to be remixing a lot of its catalog of songs for Dolby Atmos so we shall see.
Also, I’ve heard music thru the Dolby atmos process for head phones that is a step beyond the old binaural recordings because it makes even old stereo mixes sound like they were done in surround with no weird “ mono-head in the middle” effects for sounds meant to sound overhead like some binaural recordings suffered from.