It is not just the actors that were disrepected. For example, the Globe was built outside of London city limits because theatres were not allowed inside the city, instead they were placed among the brothels. If that's not a clear indication of how theatre was thought of, I don't know what is. And, sure, Shakespeare and other playwrights may have garnered respect, but that's not among everyone, just like some people respect video game developers, but largely they were not respected. Shakespeare was for a long time considered a crude, mediocre playwright. What is respected changes as culture changes, and even though it's a modern thing to exclude the audience, doesn't mean that things were better back in "traditional" theatre where audience participation was rampant. Some types of audience participation may be accepted and respected, but not nearly to the extent that the sit down and say nothing type of plays are respected.
More liberal types of audience participation, such as choose-your-own-murder-mystery plays, are not very respected as a work of art (not necessarily entertainment), and rightly so, I think.