It just adds visual noise that obscures details of the authentic scene, and nothing prevents nostalgia from being tied to many of the more prominent visual cues like old actors or your own old memories from when you watched it first...
> contributing to [film's] realism
But there is no grain in reality, so it does the opposite
Otherwise I'm glad AV1 marches along and instead of wasting bitrate encoding visual garbage has an algorithmic replacement mechanism- which also means you could turn it off easier.