This is nothing new. Back on '05-'06, Panasonic launched a 102" screen. It was 1080p res.
All that has changed is prices are lower, screen res is up, and the gap between the screen size of these monsters and the average-sized living room TV has shrunk.
There are people about who want a projector-sized image but without the light-control issues. If they have the room size and the disposable income, then why not?
If ever there was a time for these super-sized screens, it's now.
Source material res' is no longer a barrier: We go to the cinema and watch 4K on a vast screen and the picture quality holds up fine. Okay, legacy SD is still around, but with subscription TV nearly all that's worth watching is available in HD 1080i. Also, the cost of a true 4K UHD home cinema projector is still north of £5K. (I'm talking about the ones that have three full-UHD res' chips, not the ones pseudo-4K UHD tech starting at £1500.) Add the screen, cabling, install cost and the rest of the paraphernalia and suddenly the really big telly starts to make some sense from a certain perspective. Don't forget too, it's a hell of a talking point when friends and neighbours come to visit
We live in an aspirationAl society. A 3-bed detached can cost half a million quid. Folk drive Audis, BMs, Mercs, Jags and Range Rovers instead of the Fords, Vauxhalls and Peugeots of my parent's generation. No-one bats an eyelid anymore when a colleague whips out the latest £1000 iPhone or says they're off to New York for the weekend.
I remember selling early generation plasma screens almost 20 years ago. SD resolution, 42" NECs and Thomsons for £7k. Five to six years later, 42" was £1000. When the 102" launched it was £80,000 and needed 4 men and a HIAB crane for delivery.