Originally the "FauxK" or "4K-lite" terms were applied to pixel shifting 1080p resolution projectors – JVC first, then Epson as they rolled out a whole line of them. Those projectors going back to 2011, could accept 4K content, processed it, and fed it to chips that could display the picture as two sequential images, shifting a half pixel diagonally for the 2nd set of pixels as compared to the 1st. This allows for more detail, but the pixel size (relative to true 4K) is huge – twice the height and width, four times the area. Think of 4K as a baseball, and 1080p pixel shifters as a softball, in terms of pixel size.
Now enters the new TI consumer chip, as used in the Acer V7850, which is also using pixel shifting. It splits the difference in resolution at 2716×1528, just about half way between 1920×1080 and 3840×2160. But, like the lower res pixel shifters, it still uses large pixels compared to true 4K, but in this case with an area only about 1/2 as large (area-wise) as 1080p pixels.
The bottom line is the Acer V7850 is capable of displaying a more detailed image than 1080p pixel shifting projectors, but still one notch below what is possible with a true native 4K projector. This difference in visible resolution between the V7850 and a native 4K projector can be rather subtle, but visible when using a high quality native 4K/UHD resolution video source. This assumes the native 4K projector has good alignment of the red, blue and green sub-images (good panel alignment) and also has a good quality lens with sharp focus.