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Sure maybe in a hotel room where you have no other option, but not on your living room TV
Living room projector, large screen TVs are so 2010.

I use the portable monitor in spaces like a bedroom where I don’t want to have a large TV or projector as it’s more personal.
 
I think it will be as well. At least in its current form. I can see a new device, like an Apple Home, or HomePad or something taking some of its functionality.

As for the Apple TV app, well it’s available to download (and subscribe to) on practically any other TV/media device. Nothing lost to Apple here. My guess would be the marketshare of people actually watching AppleTV+ on an AppleTV is probably low.
You need an Apple TV to listen to Atmos on AirPods.
 
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