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Hello and welcome! I am Aitizaz and i will be happy to help you.
This Wi-Fi device ( or otherwise called Mi-Fi device) is most of the time used for travelling purposes
you can use this device to connect to internet while you are on the move. It has the capability to connect 5 devices at a time through wi-fi signals
so it is as such not a replacement of home based (fixed line) broadband solution
but as 4G technology is available now, it will improve the speed of the connection, which MAY allow you to use TV on it as well. BUT there are no evidences seen by me where this device has been used to run T.V
if you have any question in mind, please do not hesitate to ask me.
Unfortunately I am on an island that does have 4G so the basic Wi-Fi connection is all I can obtain from where I live. So in your opinion it would be a failure to purchase this new device
Yes, in my opinion it will not work with your T.V. For that you need to have a good speed internet connection which a basic wi-fi connection might not be able to provide.
thank you very much for coming to Just Answer. If you still have any queries, please do not hesitate to ask me. If you are satisfied, please rate the answer positive.