The thing is: DisplayPort doesn’t really want to go head to head with HDMI. The potential advantages it offers are all on the computing side. The home theatre user has little to gain. A thinner monitor that saves a couple watts an hour is definitely a bigger deal to a laptop buyer than someone picking out a six foot wide television.
The only existing advantage, cable length, is again more of a PC consideration than a home theatre one. A PC 30-50’ from a stereo or TV is common. Lengths like those within a home theatre itself aren’t that common.
Finally: would a home theatre user rather have the, as of yet unrealized, functionality to also hook up a keyboard, mouse and web-cam; or HDMI’s existing, and improving, Consumer Electronic Controls, which allow signals from a remote control to move from HDMI connected devices to one another?
DisplayPort’s marketing spins this by saying that HDMI and DisplayPort are complements, not competitors. The argument they make is that HDMI is not meant for computer equipment. It’s meant for home theatres, while DisplayPort is meant for PCs. This begs the question: what happened to home theatre and PC integration, let alone purpose built HTPCs?