As things stand now, I'll never move to a projector. The only advantage of a projector is the size, and TVs seem to be very quickly closing that gap. At 85" or so, the size is big enough to give a massive impact. 83" master class OLED A90J from Sony is going to be $8000 this year. Considering that the A90 series is supposed to be double the price of regular 700-nit OLED panels, we can expect regular (A80J and C1) 83" OLEDs to come around $4000 this year easily (so 4-5 lacs in India if there's volume).
A projector is inherently a compromised device unless the only thing you care about is size. The light goes to a screen and then is bounced around to your eye. However, when it travels back it interacts with the light coming from the projector and hence gets a bit distorted. That's why the images from a projector are never that sharp or contrasty as from a TV where the light directly comes to your eye. As an analogy, think of a soundbar with atmos reflecting from the roof v/s a dedicated HT with the speaker directly installed in the ceiling.
On top of it, it's extremely hard to do even decent HDR with a projector. Since the image can be projected to multiple sizes, there's no way to accurately tone-map the signal. You don't know how bright the scene since you can make the image bigger or smaller and hence less or more bright. You can get around this with a brightness meter and custom firmware but I doubt many would do that. Also even if you can tone-map, you need at least 7000-8000 lumen projector to even get 700-nit HDR over a 100" size. That's before accounting for the losses due to more distance travelled and reflection. You can treat the room to absolute darkness but HDR can never be rendered properly if the final brightness is 100 nits since it's on absolute scale.
Let's think about 2 scenarios:
- You have a proper HT room: In this case, you've probably spent a considerable amount on the separate room already and likely want the best of the best. That means you at least want true 4k (none of that nonsense 1080p to 4k pixel-shift ones will do) and HDR since almost all the movies come with HDR or Dolby Vision will do.
In this case, a true 4k projector already narrows down the number of projectors you can get. And when you add HDR to that it's just one projector that's left and that is Sony GT-Z380. You can't even buy that thing and since it costs £14000 it will likely cost over 15 lacs in India. And that too won't give you OLED like blacks anyway.
A big OLED (83-88") is going to be cheaper and much better PQ than getting a projector which can even do decent HDR. And not to mention that the OLED can do 120Hz and has amazing response times which the projector will never have. Also 120Hz means much better motion processing.
- You don't have proper HT room: Here it's no contest as the room is not even light controlled.
The only person a projector will make sense for is the one who is either just looking for a 100"+ screen only and is happy with 1080p and poor-HDR performance. Or you are willing to spend over 20 lacs for just HT equipment and get the best of the best 10000-lumen laser projectors (still won't get comparable quality to an OLED though).
I'm willing to sit a feet or two closer with an 80-90" TV but I won't compromise with picture quality. So projectors are not even worth considering for me.