YouTube
announced today that they have added support for 4k video (the fmt code is 38, btw). Unfortunately, even ignoring the fact that people don't have monitors that big, and the decoding complexity, they have another problem. The sample clips offered do not have a high enough bitrate. Their first sample is "Life in the Garden". The 4k version is encoded at a low enough bitrate that it looks no better than if it had been upscaled with nearest-neighbor.
Here is a still frame from Life in the Garden:
If you look at the full-size version, you should be able to see the blocks I refer to.
While offering 4k is an interesting gimmick, I don't think it is really viable. YouTube seems to have a "more pixels is better" thing going on.