Doubt it, remember xvid codec videos from back in the day, those would look like trash on a 4k tv. Even 420 and 720p videos from the 2000's don't hold up well. I'm assuming we will eventually transition to 8k tvs.
That's good point.
Replacing 720p and 1080p files with higher quality files has crossed my mind many times because there is a popular site that uploads compressed files and while they look ok on 1080p TVs the color banding and compression are very obvious and I'm going to assume it's going to look worse on higher resolution TVs