It is a diluted market.
I for one miss the big screen and when movies were a social event.
I’ve seen event screenings of movies.
The new trend (that I haven’t been to) is to screen a movie with the live symphony playing the film score (originally it was done with Warner Brother cartoons in the 1990s but now it is done with films like Dracula and West Side Story).
There were also big roadshow revivals of movies like Lawrence of Arabia.
They still make epic LENGTH movies but no longer put intermissions in them so you can go to the bathroom, discuss, the film, make a phone call, etc. Also without the STAGING of a film as a first act, second act, and finale, the plots meander and then are expanded even longer on the eventual DVD release.
Storytelling has gone out the window.