Uh yeah I don't think so
To have a proper projector setup, you need:
1) very bright projector for daytime viewing (which currently cost around $2000 to $20000)
2) decent or good screen for gain (which currently cost $500 or thousands)
3) room surroundings need to have the right paint and control over ambient lighting (installation costs)
4) installation of projector and screens and the wiring (~$1000 or much much higher)
In other words, unless you spend a lot of money on equipment and professional installation (i.e. time and hassle), a good LED TV will be likely better and more versatile as well as more simple.
Currently, very true in respects to large size displays.
How about simply a 24" or 27" projection? Projecting on a smaller scale to mimic that of current display sizes? Maybe build it into a Mac Mini or iPad (once tech exists). It would be a feasible option for those who may need a display larger than the iPad or 13", 15" MacBook's. Place the device on a desk facing away from the user and reflecting onto the target surface. Could be a makeshift screen or such that could project crystal clear images that would be difficult to distinguish between a display and a projection.