Nope, completely different experience. Sitting a few feet from a 60" TV does not have the same sense of scale as a 40' screen, unless you're sitting at the very back of the theater. A 40' screen feels huge.
I have a very nice home setup, but the theater is bigger and better.
Clearly, cause now a days they have designated seating and actively displayed sales, so you can always sit exactly where you want, and go to show times with fewer people so you don't have as many around. I've gotten the perfect seats in nearly empty theaters every time I've seen a movie for the last few years, and it's always been an awesome experience.