I have a very basic 768p HD TV (32 inch) with no HDR, dolby etc. It will be used for IP TV, youtube. In my country (Bangladesh) Fire TV Stick Lite is around $30 and Xiaomi TV Stick 4k is around $50. Should I really spend the extra 20$ for a 4k device which will not give me any additional benefit other than having different OS?
Xaiomi 4K has better hardware and will future proof you if you decide to get a new TV. You can add the apps you want as well.
If the additional $20. is in your budget.. get the Xaiomi.