I agree you can have good or bad recordings in immersive audio. The processor or receiver has controls that allow you to select two channel, or upmix to any of several selections (Dolby Surround, DTS Neural or Neo-X, Audyssey DSX, Auro-3D, etc). You can tailor the song to your room.
As for the band being in front of you the engineers refer to this as the artists intent and try and reproduce it. There are many artists that discuss this on Dolby’s channel like:
BTW, your system looks amazing, why the bare walls though? Room treatments?