I'd say "specific format surround mixing" like 5.1 or 7.1 is mostly an afterthought, but Dolby Atmos (which is "mix once and it automatically folds down properly to the actual number of atmos speakers" has become huge in the audio world according to multiple interviews I've read with pro audio mixers and film/video/TV post folks.
Be careful about Atmos. Most Atmos discs (I refuse to stream it) are a 5.1 TrueHD main setup with atoms layered in. So it's still 5.1 or 7.1 with some atmos effects.
That being said, I have a 7.1.4 Atmost setup and it is on the level of "HOLY SHIT" good.
The physics of moving air to create sound hasn’t really changed in any meaningful ways; the biggest upgrade is usually larger drivers fed with more power. I think most would experience that as much more of a theatre like experience than 7+ tiny underpowered satellites outputting an already bad mix.