I'm just kind of riffing on other people's takes here, but I think this comes down heavily to setup and source (aside from personal priorities).
I have a nice 5.1 system, but I know it will never be perfect simply because my house is not compatible with the speaker placement. Nothing to be done about it, it's a house from the 80s. The acoustics and room layouts are just wrong for it. I think a lot of people are that way. There is a minimum level of money, setup, and luck that you need for it to be worth it.
And for source, tbh the place where I really value 5.1 is in video games. Some movies do cool stuff with it, and I like the overall feel of 5.1 even if I'm not noticing it specifically, but video games give such a better wow factor. A great example is stealth games which turn off the HUD at higher difficulties; surround makes a huge difference in these cases, and is much more immersive. Racing games and shooters can also do great stuff with the positional audio, which you will notice.
So I'd say, I wouldn't knock surround unless you've heard a good setup with the right source, but I also think that for a multitude of reasons it is not practical or preferreable for everybody.