Not very popular, but popular enough. If you care about sound more than looks (...and if you get the system set up and have a convincing story for your wife that it must be this way), it's the only way to experience movies 'properly'; mixed with an OLED TV, a proper subwoofer (like PB-1000 or similar) and bluray-quality content the system will be better than your average cinema experience.
Now, whether that means anything when 99% of everything made for watching is just playing in the background while you're reading HN on your phone is debatable. Still wouldn't trade the setup even if I'm watching one movie per month. (I'm not even close to that high of a number...)