I agree that it's useful for a TV but the 21.5" iMac is too small for that anyway - however if you want to edit 4k video, it's super useful to have extra pixels to be able to display a full UHD image with some GUI elements surrounding it.
They've used the DCI 4K resolution standard as the basis for their 4k screen, which is defined as 4096 x 2160 at 16:9 aspect ratio. This screen has a 16:10 aspect ratio, thus 4096/16*9 = 2304, the vertical resolution on the 4K iMac.