The reason VR enthusiasts want wide FOVs is not because they want to watch movies stretched to 120°. Nobody does that. They want wide FOVs because even at relatively high FOV, like the 106 of Quest Pro, the edges of the display are still easily visible and the image does not fill eye's FOV fully. Yes, the resolution of what we can see towards the edges of our vision are much lower than what we can see in the center, but it's about getting rid of the visible boundry that messes with immersion.