If people demand it they may simulate medium format. But yeah seeing large prints from LF or MF cameras the whole image looks very different, more immersive of the scene.
The available resolution of LF, even from "only" 4x5, beats full-frame digital handily. It's also simultaneously cheaper (dollars) and more expensive (time).
There are no real differences beyond those arising from differences in aperture and focal length. For example, here are two very similar shots, one shot on a DX format DSLR and the other shot on 4x5 film:
