I think evolving is the correct word right now.
I also have an AV room, that is 7.2.4 Atmos. All the speakers are very good, and located precisely to Dolby specs. It is a custom room of optimal dimensions. So it is ideal for evaluating this technology.
First the Dolby up mixer from stereo sources. On most sources this works well for classical music well recorded. It does not work well for music in the popular domain. This is because the latter sources are almost universally poorly engineered. When you analyze them in wave lab, it is awash in phasing errors and clearly derived from single mono mixes panned from the mix panel. In addition the majority of the information is center with limited left right information. You can tell most of the ambience is artificial and created. Just awful rubbish. Classical productions on the whole, are carefully produced, with natural stereo mike placement and subtle use of spot microphones in naturally ambient environments. This allows the Dolby upmixer to work very well indeed.
Now in terms of Atmos discs and streams a lot, and I think most, are old two channel recordings upmixed to Atmos, and usually badly. What is available on Apple Music is awful. The Dolby up mixer does a better job.
I now have two Dolby Atmos discs on BD. One is audio only. It is the of the new organ in St. Stephens Cathedral in Vienna. It is on the DGG label. This is stunningly good. It sounds as if you are literally transported to the cathedral. The other, again on DGG, is from the university of Oxford with Sir John Eliot Gardiner, with his orchestra and Monteverdi Choir. This has the video on the Atmos disc. In the main, it is excellent. One of the huge advantages of Atmos is a realistic 3D perspective. Unfortunately the engineers turned up their spot mics too high, and in these numbers the perspective is lost. I note in the most recent BPO productions they have dispensed with spot mics with improved results. I note they are now using the modified Decca Tree. This is rapidly gaining acceptance as the optimal way to record in Atmos.
That brings me to the Berlin Digital Concert Hall, and what they call immersive audio. It got off to a rocky start, mainly I think because they were up mixing. Now they are definitely offering true Dolby Atmos. Many of the recent offerings are superb. A recent Mozart concert was stunningly good.
I will post later about this, but recently there was a fantastic performance of Olivier Messiaen's Tulangalalia Symphony. The result stunning. This allowed this extraordinary work to be heard in the home for the first time as it needs to be heard. This work is in many ways an extended concerto for Piano and especially the electronic Ondes_Martenot.
This work is truly extraordinary and there is nothing remotely like it in the history of music. I have never heard such an ovation after this extended 10 movement piece. If any work was written to show off Atmos, that is it.
One big issue is that for streaming Dolby insistence on adherence to an unusually low acoustic level at least 8 db. lower then usual audio streams. I have posted about this before and Dolby's reasons for the spec. with which I disagree vehemently.
So, there is enough out there to validate the technique, and I hope things develop. The big problem that I see that will be a barrier, is that it really does take a custom build, in a custom room. That will not be possible for the many.
To end, I just want to mention the issue of front wide speakers. I know our illustrious leader is sold on the idea, but I'm not. I think the issue goes away if you properly position the front right and left speakers. They need to be as far apart as you can get them in the room, and about 14" from the side walls and no more.
Wide speakers will be problematic in placement, and inevitably inferior to the right and left mains. The last thing you need is inferior speakers anywhere near the front soundstage. In my room the soundstage is wide, and bigger than the room. I really doubt adding a couple of extra speakers up front would be a benefit.
As you say, this is evolving, so stay tuned!