You said that you don't really care whether you're watching video or film.
There is a distinctive "feel" to both film and video, even if you are watching
both on TV.  If a major feature film came out that looked like a soap opera,
the chances are that people will say that it did not look "right".  Even if
they don't know exactly what was wrong, they would know something was up.
This is the same reason why most big budget commercials are done on film.  If
they are done on video, they look "cheap".  They framing and composition may
be immaculate, but it will get the same reaction if made on video.  There are
certain things that we have grown accustomed to being on video, and certain
things being on film, it would be mighty hard to switch them around.