Blockbusters going direct to VOD rob them of the allure of going to a theater: the forced attention of that environment, the collective gratification of the crowd. Without that mystique, all that's left is the content/quality of the art. Films need to be better to hold at home.
But I think that's part of what sets movies apart is the collective nature of the theatrical experience. I'm sure there are movies I like more than I otherwise would because I have memories of seeing them in a packed theater and feeling the energy of the crowd's reactions.