I've actually got a Dell S2817Q connected to my 5k iMac as a second display.
I mostly use it in "looks like 2560x1440" scaled mode.
It doesn't come close to the iMac 5k panel in terms of colour reproduction, but in terms of sharpness it really doesn't look too bad. In "native" unscaled mode it is pin sharp, although yes, the menus and buttons are very small. In "looks like 1440" mode the text looks slightly "soft focus" alongside the 5k display, but it is really pretty good for a display that was a fraction of the price of anything equivalent to the iMac screen - and it is far smoother and more detailed than a regular 2560x1440 screen.
...and, to re-iterate what others have said, because it is important, "looks like 2560x1440" on a Mac is not actually 2560x1440 - it is 5120x2880 (5k) slightly downsampled to 3840x2160 and makes good use of the extra resolution of a 4k screen over a regular 1440p one.
Note that any screenshot taken with the Mac's screenshot-taking tools on a 4k screen in "looks like 1440p" mode will come out at 5120x2880 and will be indistinguishable from a screenshot of a 5k screen - so it's no very helpful.
If I replaced the S2817Q it would be to get better colour for video/graphics work - I have no complaints about the resolution - 5k is only a slight improvement considering the extra cost.