Nope - I have an external 28" 4k connected to my iMac and there is a choice of scaled modes that give you more screen estate than the strict 2x "looks like 1080p" mode, the higher of which would be perfect for 32" displays. Not quite as pin sharp as 5k of course, but still head and shoulders above low resolution displays.
Also, even I can use native 4k on the 28" for short periods before my middle-aged and astigmatic eyeballs melt- a young whipper-snapper with young eyesight would be quite happy on a 32" display, great for shedloads of code or huge spreadsheet.