Would there be a significant improvement in picture quality if a native 1080P material is upscaled to 4K? Some A/V Receivers now a days have upscaler to 4K.
Not really. Let's do the math.
720p = 1280x720 = 921,600 pixels
1080p = 1920x1080 = 2,073,600 pixels
Ultra HD (4K) = 3840×2160 = 8,294,400 pixels
1080p has 2.25 times more pixel than 720p.
Ultra HD (4K) has 4 times more pixel than 1080p. This requires more processing power for video interpolation. More mistakes could happen when upconverting 1080p to 4K.
IMHO, it is still better to just get 1080p TV specially if you only have 1080p video sources.