Either way, I'd say most people would be better off sacrificing audio quality for video quality (or at least making sure you know what is doing your upscaling, and testing different options).
Yes and most people (probably about 90% of them) would be watching 4K content on Netflix or Disney+ (or others) via their TV's speakers - so most people probably aren't aware of different audio formats or quality unless they've got the gear to play it.
In my case (backstory above) when I get some UHD Blurays I will connect my Xbox directly to the TV and be happy with standard Dolby 5.1.