Your suspicions are partly correct. Home theater will not replicate the cinema. The good news is that home theater 3D can easily be better than the cinema - just not as large. If you aim for a 10 ft wide screen, you can get a fantastic 3D picture. Look at the Epson 5010.
Most every home theater projector is designed for a screen 10 ft wide or less. You lose too much brightness and with that, you lose impact when you go for a larger screen. A 10 ft wide screen viewed from 10 to 15 feet away is super great. Put in a few subwoofers and a high power surround sound system, and you will have home theater experiences you will never trade away.
This goes triple for 3D, as the glasses rob some brightness. At 10 ft wide, 3D works impressively.