Unless you're unwilling to compromise on screen size or have some other extreme edge-case deal breaking scenario like needing the center-channel behind the screen, a projection home theater doesn't make sense. It's a waste of money and it's worse in many ways.
A lot of hobbies are like this. The expensive stuff there for some stupid reason people won't compromise on.

@SwiftOnSecurity have you seen LEP flashlights? That's my first thought from another hobby.

If you need a handheld light with extreme range with a narrow beam and a laser is too narrow, then you can use a LEP - which works like an inverted telescope, with a high power laser pointed to a small fluorescent surface which lights up a reflector which in turn direct all light forwards.