When you have a smart 4K TV, Netflix know you are using a 4K display and play 4K content at UHD resolution. Would that happen with 5K iMac too?
It really doesn't matter the screen is not big enough to notice it from any real sitting distance.
It really doesn't matter the screen is not big enough to notice it from any real sitting distance. You can see barely more than 2K on a 32" TV screen from a normal viewing distance in a living room.
Pretty sure browser based Netflix doesn't have 4K streaming. I got a Samsung 4K panel and was disappointed to learn that. At the moment, Netflix will only stream to a select number of TVs and set top boxes in 4K
Correct. I have built in Netflix app with 4k content on my brand new Sony XBR 4K tv. I must say that the difference between 1080 and 4k on my 65" tv is dramatic but I don't believe there would be any noticeable difference on such a small panel like a 27".