One of the most incredible system I have ever heard was a Wilson Bamm or Wham or something like that / Rowland. The system was set up perfectly. Images were precise and sounded spherical suspended in the sound stage… one 12’ forward 3’ above the floor at 10 o’clock, another 5’ above the floor and 6’ at 2 o’clock… like that. It was the most incredible experience I ever had. I came away just blown away, saying… “That is the most incredible thing I have ever heard… I do not want that… but that is incredible.
So, yes.
Some folks want to be engulfed in sound… enfolded, or have a wall wash over them. Holographic imaging does not do that to them. So, yes again. You’ll see some dynamic speakers system six feet high with tons of midrange and woofers. Typically those are designed for more of a wall of sound and less for holographic sound.