I think it depends more on what you have done with your space. I have a basement playroom and totally love it. I used to have a main floor one and would never go back.

You can do great things with a big basement space and people just notice that. I have seen main floor playrooms that just looked like a normal living room with a few toys on the floor.

As long as you have a space that parents want to leave their children in I don't think it really matters.