I have a 85" television in my family room. It's a nice Samsung display. Not as nice as my old plasma, but it's a solid product.
Then I have a 161" front projection setup in my basement.
The projector setup was actually pretty inexpensive. So, it doesn't touch the black levels that JVC or Sony can deliver. But, the immersion is something else. I swear by the concept that a big TV is a big TV is a big TV. Front projection is the ONLY way to do home theater. Period. So, for look and feel, you truly get a cinematic experience with front projection that you can't with any other technology that I've seen. It's much more natural to see the light reflected off the screen into your eyes.
Now, to be clear, if you are looking at the 285ES or the NX5, you are looking at the same 4K resolution that the flat panel OLED delivers. There is no change in resolution. It's just a size difference. A 60" OLED from 6' is the same as a 120" front projector at 12'. The resolution is the same, and image quality, sharpness, clarity, and detail can match up nicely.
Brightness can not.
Projectors simply aren't as bright as flat panel displays and that plays something of an issue with HDR content as specular highlights can't peak up the way that they can with flat panels. It's going to remain an issue for years I expect, but even with flat panels they are constantly working to come up with a few thousand extra nits that they only need from time to time.
The other issue is contrast, as you are pushing a ton of light through a very small amount of space with the lens and the internals of the projector. While LCoS and JVC/Sony do a better job than most, it's still not as good as OLED delivers. But, it can be better than the LCD TVs can deliver, or at least close to on par with the better LCD displays. Plus, no burn in and no issues with viewing angle (with a good screen).
I've installed a few JVC and Sony models and am always jealous of the quality that they deliver. JVC especially is my fan favorite. But, with how new the native JVC 4K models are (just coming to market now), it will be a while before the real head-to-head of JVC and Sony is known.