Yes, I too can appreciate a good trailer or two (or even three sometimes). BUT- IMO- one of the great aggravations of discs is the forced sequence of trailers that you cannot skip... especially aggravating when the disc is old and we're watching trailers for movies that are also years and years old.
But- IMO- picking & choosing trailers with the trailers app is great. Simulate the cinema except with your own choices of current trailers and see only however many you want to see before starting the main feature. It's one good way to fill a little time while everyone is trying to get ready to watch a main feature.
Now, all that said, you are not the only person that feels like simulating the cinema experience. How about the older 1930s-1950s approach of maybe a good classic cartoon and maybe a 3-Stooges or similar short too?
A good way for Apple to accommodate that would be replicating the "play next" and "play later" features in Apple Music with video. Conceptually, someone could then tag a few trailers of their own choosing, get them into some self-chosen order and then tag a main feature to play after them. Then you as host could basically fake being the cinema owner picking & choosing the viewing experience as you see fit. Since that tech is already mostly in place on the music side, it's probably not a huge leap to apply the same to the video side. Get it working with the trailers app? Maybe get it working with the YouTube app too? Etc. Maybe Apple will get around to that someday?