I use it as an iPad pro max ultra, that means watching videos, regular flat videos.
it's great because I don't have to hold it up with my hands, audio/visual experience are also superior, that's the only reason I got it.
the AR/XR stuff are fun gimmicks, I never thought I would use them, and I never did use them. I hang a clock widget on the wall cuz the real clock I have there is out of battery.
the immersive stuff you have on Apple TV are again just gimmicks, they're super boring other than the fact that they're in 180 degree 3D, I couldn't care less about some bike racer taking an interview in French accent, why would I pay 3k to watch that in 3D?