Hmmm... I watch DVDs and Blurays on a 720p beamer (projection area is ~120'', ~7m away, PS3 as bluray-player) and not on my 1080p TV and it really doesn't matter at all. Most often I only notice that I'm watching a bluray when watching the credits or any other text. When looking at games, I would even guess, that I would prefer a faster, visual pleasing game over a slower, lower quality game with higher resolution.
To be honest, when I buy a new TV, bluray, console whatever, I analyse each single pixel, but once I get used to it, only a minimal display resolution is important for me. I often decrease the resolution of games instead of tweaking the visual settings, to get more performance and the only really nasty effect of low resolutions is often text.
Looking at Hodgman gfx factor,then I think that quality will always win over resolution as long as the resolution is not a major quality factor. The latter is the case for text and VR, eventually the success of VR will determine the future of game display devices and not any 4k,8k or 128k TVs.