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Quoting Mixmaster_Mal:

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Given that most younger people seem to watch their movies on screens of 10" or smaller, quality isn't really required any more.

I find that that absolute pronouncements are not useful for things like this. For me personally, I like choice. I buy and use just about every format, depending on the situation. On the train, I can stream YouTube and Netflix to my phone and tablet. In my Home Theater, I use 3D Blu-Ray discs, and everything in-between.

I can remember watching TV on a 9" color TV using NTSC standards. My 10" tablet is far more visually satisfactory, than even my old 21" Trinitron TV. So, everything is relative. I say, enjoy the versatility and diversity of sources and formats - one size does not fit all. 

Oh, and then there is the economic factor. Not everyone can afford the "best." Due to the advances in technology, today even mid to low-end a/v equipment can deliver a superior experience than obsolete high-end formats. I have some really good stuff, but it still isn't the best or most expensive. And even stuff lesser than what I have, can be pretty darned enjoyable.