Are movie theaters dead, or is the big screen irreplaceable?

Hollywood now makes movies for two audiences: Americans who might stream it, and Chinese censors who decide if it gets a theatrical release there. The international box office, especially China, props up the blockbusters that keep theaters alive, which means scripts get scrubbed of anything Beijing dislikes. So the 'save theaters' argument is really an argument for preserving a system where American culture is pre-censored for a foreign market. I would rather have a smaller, honest streaming industry than a theatrical one that edits itself for approval.