HDR streaming onto a projector is largely terrible, HDR Blu-ray onto a projector requires a very dark room, a very bright projector and a great screen... being watched by a person who appreciates 'accuracy over pictures that pop'.
Now HDR on a TV is a different matter. TV's can go eye-searingly bright, while projectors simply can't achieve what many people want at this point. Add an Apple TV into the mix and you have a recipe for a sub-standard result.
This industry is not getting cheaper and cheaper, we're simply convincing ourselves that we have to push the cheapest option to customers. #makesonosgreatagain