Maybe, but it doesn't really fit the "augmented reality" paradigm. People tend to try to make watching TV or movies an "immersive" experience that blocks out and replaces the ambient environment. There's better options available in the VR arena for that.
Then, imagine a Hololens TV set, where 3d is the standard, and surround sound is also standard, and where you get 360-degree viewing of a movie. YOu are not just watching a movie at that point; you become immersed and could be interacting with what you see.