I'll defer to imagic for the OLED comparison as I never owned one, but I'd say a OLED crushes this projector during the day for black and contrast is probably better too. Both are probably close in complete dark, though I've been told HDR is always better on a TV than a projector so the OLED is likely still better.
After a lot of waiting for new UST projectors, I realized that there wouldn't be a magical product that would be 4K with good contrast at a decent price for a while. Given that... I went all in with an open-box version of the Sony VPL-VZ1000ES at Best Buy.
While still very expensive overall, I got it for a significant discount, got the Salamanders Designs cabinet for free and 10% off on the screen. To optimize $$$, I also got a credit card from Best Buy to get 10% cash back which, was not negligible at all given the purchase.
Needless to say, I'm thrilled with the projector! I went for a 110" screen and it just destroys my 10 year-old 46" LED TV (could have gotten a 120" but it would have been a bit of a stretch plus de cabinet would have been a bit too for off the wall for my liking).
I have a lot of light during the day, especially with a large window very close to the projector, so dark scenes are very washed out during the day with the curtains opened, but it looks great when closed or with a more moderate amount of lights. For other use cases when the scenes are bright (sports, TV, most games), the quality is amazing regardless of the amount of light getting in. And of course, in the dark it looks great no matter what. Watching Game of Thrones on this is a real treat!
I'm attaching a couple of photos in various light conditions so that you can get an idea.
I kept my previous TV for almost 10 years, I'm hoping to keep this one for the next 5-10 years, until MicroLED solutions like The Wall becomes a reality for consumers for a decent price.