That's basically my setup, lol. Except the laptop is just old but otherwise intact.
Boots into OpenBox with some custom startup scripts to auto launch a fullscreen browser to my Emby server, a little python daemon I wrote to control various things (screen on/off, volume, etc) via MQTT, and some webhooks from Emby to tie it into my HomeAssistant.
All my DVD/BR library has been ripped to my server, local OTA feeds in from my HD Homerun tuner, and can use my phone or anything with a web browser as a remote.
Not a huge problem for me: they cap the resolution at 1080 but that's what my projector does. Looks pretty good on my wall. Plus I only currently have HBO myself...but yeah 4k bluray/jellyfin looks just as good because the projector is the limiting factor anyway.