It really depends on the movie. A lot of Blu-rays could use it if they had DNR, edge enhancement and incorrect color grading. But for releases from companies like Criterion and Arrow, they don’t need it as much. Also, newer movies tend to not look as good as older ones due to them being shot and finished digitally, usually at not true 4K resolution.
I agree. One with I find distracting is the ‘soap opera effect’. For instance the film Gemini Man. Sure it looks fantastic but it tends to lose the affect given from a film pundit’s point of view.