I never meant to suggest that APMs duplicate the experience in a THX certified Dolby Atmos theater. Nor will it duplicate a home theater setup that cost several thousand dollars. But I bet if you compare a $550 "home theater in a box" deals with APMs, the headphones would win.
The main point is APMs duplicate the Dolby encoded soundtrack with as much audio quality as the headphones can produce. Sounds that arise from the side or rear are heard as the filmmaker intended them to be heard. Ambient sounds have appropriate volume levels. A purely bass thump is felt instead of heard. Etc.
Herein lies a shortcoming of the APMs. If you feel the bass muddles the soundtrack, you have no way of adjusting that via EQ settings. This will vary, to a wide degree, depending on the source material. GvK does have tons a bass and will overpower the soundtrack, as the filmmakers didn't mix their tracks with headphones in mind. Other soundtracks are much better. It would great if one day we get an alternate soundtrack that is EQ'd for headphones.
Previously, I would only use headphones watching video when I had to, and I have Focals with Dragonfly Cobalt DAC. It's just hard to listen soundtracks in stereo when you are used to 5.1. With APMs, it's an acceptable alternative (but NOT an improvement) to my home setup.
I wasn't meaning to imply that you personally had said that, though I admit that is how it came off. I was more thinking about some of the sentiment I have heard in various forums, etc. I agree that they do a good job of simulating surround. I just see a lot of over the top comments sometimes, similar to the way people talk about Sonos or even Homepods. They are good for what they are, but still not as good as "the real thing" so to speak. Which I think we agree on.