Hi Bill,
Yes, it does not cost much to set up a basic home theater in your living room or den and have the freedom to watch any movie you like.
However, the younger generation is gravitating towards personal entertainment devices that they can carry with them. They prefer to stream NETFLIX movies on their iPads or Laptops. It offers a mobile solution that they can enjoy everywhere. Even a TV is perceived as a bulky, static burden.
Same thing is happening with high-end 2-channel audio systems. There was a time when audiophiles used to cherish their reel-to-reel tape recorders, vinyl, and CD collection.
They would remove a record from its cover, dust it off, place it on the platter and carefully drop the needle and enjoy the music while being seated. It was considered a music listening event.
The younger generation does not have time for this. Music is simply something that plays in the background while they are focusing on their primary activity. They are more than happy with their wireless Apple AirPods streaming music on their iPhones.
The majority do not own any physical media. They are more than happy subscribing to a high-rez music streaming service like the Qobuz Studio Plan for $130 a year.
https://www.qobuz.com/us-en/music/streaming/offersThey get instant access to a hundred million tracks that they can enjoy anywhere, anytime on the go.
They have no interest in investing in quality speakers, pre-amps, power amps and DACs. The outrageous pricing on audiophile equipment is partially to blame for relegating this hobby to a tiny exclusive club.
Convenience has taken priority over quality.