There is no point in streaming 4k content if it's going to be compressed to the point that it's 1080 resolution or less.
There really is no excuse for not releasing all content in original aspect ratio and leaving it that way. If people want to crop it to fit their aspect ratio, most TVs can do that automatically.
"Widescreen" is more properly known as shortscreen, the light from the lens is a circle and everything else is just cropped out, 1:1 captures more of the light than 16:9 does, when filming in "widescreen" all you actually do is crop more off the top and bottom, there are no magical "widescreen" lens to change the optics of light.
In the future, people will wonder why the hell the idiots of the 21st century made such a fuss over making screens shorter. Hilariously enough, there are people who want screens to be even shorter hence "ultrawidescreen"