The movie theatre experience is one of a kind. You can't come close to re-creating it with your phone or tv.
It's the 'out' part that is important!
In a theater, you sit in the dark, if you are a good citizen, you don't talk. 90% of any social piece to going to a movies happens at dinner before or after, which you can still do and then go home to watch a movie.
Are you talking about gearvr? Or other “not really vr” headsets?
The only problem is right now they are targeting business, but I hope to see a consumer version one day and if they can get it lighter, comfortable for 3 hours of continuous wearing and can replace a theatre screen.
I don't see why it can't replace a TV or movie experience.