My thoughts exactly. I just have to laugh when anyone talks about a theater experience from 50 years ago (typically its LOA or 2001). Even if the person remembered correctly...was the film projected under ideal conditions? Was it a new screen or did it have a layer cigarette smoke and thus not reflecting the picture correctly? Was the projection bulb new or on it's last few hours? Was the projection glass in the both clean or again covered in cigarette smoke from the chain smoking projectionist? There are just too many variables to say any projected movie is the reference to which a home release is judged.70mm movie projections are so rare or distant in the past, that I have the impression some people are "romantizing" the format as something incredible that can't be replicated, kinda like some think of vinyl recordings. I doubt people saw Lawrence of Arabia at theaters at thought "omg! There's so much detail, clarity and textures, this is so razor sharp" like we refer to movies these days. I believe it can look today much better than it looked in previous home versions, and probably better than at theaters, but I believe 1080p BD and UHD with HDR capability can come close enough to such quality, at least to the point of saying "OK, this looks, really, really good ".
Or...maybe I'm completely wrong. But that's kinda the point. How many people are in position to really assess the quality of 70mm projections? Very few. So at this point is basically a stuff of legend.