The films experience has changed a great deal even from the time I was a kid in the 80s. Going to the movies was an event. We had home video, but we sometimes had to wait years after a film's theatrical run for it to be released on VHS. Now the DVD and bluray special features are being edited even before a film has been released to theaters. You see a preview for a movie you'd like to see, blink, and then the DVD's already out. Sometimes a film is released to a streaming service like Netflix before
the theatrical release.
Audience reaction isn't the same, either. My favorite movies memories are the ones where the crowd really gets into the excitement, laughing, cheering, feeding off one another's energy. These days, when I see an action FX flick like "Transformers" or even Trek films, the audience more often than not just stares passively at the screen.
At some point, we de-mythologized what was a modern mythological experience.