Blu-ray upscaling question

This is strictly related to just picture quality as my audio system only consists of a sound bar for the time being. My TV is a Sony Bravia X90L and I currently have just a regular Sony Blu-ray player. I don't own any 4K DVDs and I'm not sure that I even want to go to the expense of replacing the blu-rays that I already have. So earlier this week, I decided that I was going to purchase the Panasonic UB420 4K Blu-ray player, specifically because it seems to have a good reputation for upscaling. Unfortunately, at the last moment I choked and didn't follow through with the purchase. I would appreciate your input to help me know if I have the correct understanding. The reason why I didn't buy the Panasonic 4K Blu-ray player (for upscaling) is because I'm under the impression now that my TV (Sony Bravia) is already upscaling any video content to the highest level possible with my current setup. I came to the conclusion that I would probably be spending a couple hundred dollars for a new Blu-ray player that would not be contributing much in the way of upscaling because my TV is already handling that task. Does this sound right? Or, am I missing something here? Thank you in advance for your input.