I have a dedicated theater room in my basement with no windows, 7.2 surround, acoustic treatment, etc.
1. The big screen. There's something to be said about watching visual storytelling on a three-story screen, particularly when the film really takes advantage of the format.
OK, my screen isn't that large, but it takes up as much, or more of my field of vision than what the comfortable viewing distance does at a commercial theater.
2. People everywhere. A group of people laughing together simultaneously triggers a feeling that you should laugh, too; during a suspenseful moment, you can feel dozens of strangers suck in their breath together.
I have enough room to seat as many people as I care to. And I can throw them out if they annoy me. Plus most of my friends are more enjoyable to watch a move with as they tend to have a similar sense of humor. Do you know how annoying it is to be at a movie and not find dick and fart jokes particularly funny, but then be the only one in the audience to notice a really funny joke?
3. Focus. Even people who try their hardest to give a movie their undivided attention on a living-room screen have fallen victim to temptations like "Well, I'm just sitting here, I might as well pay the electric bill."
I have no lights on when watching a movie, and no easly way of doing bills. If the movie doesn't hold my attention enough that I don't feel like doing bills, it's not worth my time to watch it.
4. Relentlessness. Part of the advantage of that kind of focus is that movies that are tense, scary, or deeply emotional can cast much more of a spell over you when you don't have the option to pause or turn away from the worst, then rewind later to catch it safely out of context.
So it keeps your attention more when you have to miss 5 minutes of it because you need to use the bathroom? Or can't rewind it to catch something that you misunderstood?
And hearing people slurping the last little bit of their gallon drink through a straw during those quiet emotional times really sets the mood.
5. A massive speaker system.
My wife couldn't care less about technology and sound, but the last time I took her to the movies, she actually complained that the sound wasn't as good as at home. That's when I knew I was done upgrading my audio. I usually watch movies with the volume at about 25% of what my system is capable of. I've had it up to 80% without any distortion, but frankly it's not comfortable after 50%. So, in my case, it's the opposite.
Bluray discs come with previews. I watch them about half of the time when I get a new disc.
7. Disruption. A problem with watching movies at home is that it makes the film-watching experience blur into the same experience as surfing cable channels, running a Netflix comedy show in the background while you do dishes, or half-assedly watching an Adventure Time marathon while stoned.
I don't typically watch TV shows in the theater room. Though I have. When the STTNG boxset was on sale for $60 I bought it. A lot of older shows that were on film, really look great on bluray.
8. Alone time. Going to the movies with friends or your significant other can be a cherished pastime, especially when you're surrounded by an excited audience.
Excited audience= loud, annoying and disruptive.
9. 32 ounces of cola in the dark.
Yes, a 1500 calorie sugar drink along with a 1000 calorie bucket of popcorn and 800 calorie nachos is just what you want while sitting on your ass for two hours in the dark. I'm pretty sure I could roll a barrel of soda into my basement if I wanted to.
Bragging rights for what? spending $50 to sit in a sticky seat surrounded by yapping teens on their cell phone while consuming enough calories for the entire day in sugar and fat? Awesome.