It's specced way too low to really be useful as a general computing device, and the form factor is 'weird' to say the least. It's too big to really be called a stick, and too small to be able to pack a decent cpu. There's plenty of space behind the monitor for a somewhat larger device in a better form factor. The stick is a play toy that you will become disappointed with very quickly (think the old 'netbook' concept Intel tried to push a few years ago... that's what the stick feels like).
Honestly, the 'compute stick' makes zero sense for a TV-mounted device. It is far better to just go with a chrome cast stick or an AppleTV for airplay and using a pad or cell in your hand to control it if you want to throw a display up on the TV. Otherwise you will be fumbling around with a horrible remote or you have to throw together a bluetooth keyboard (etc...) and it just won't be a fun or convenient experience.
My recommendation... don't bother with this gadget. Instead, spend a bit more money and get an Intel NUC or Gigabyte BRIX (both based on Broadwell). And get at least the i5 version, the lack of turbo in the i3 version is telling. e.g. i5-5200 based box or better. It will cost significantly more than the stick, but it packs a decent cpu, can take up to 16GB of ram (2x204pin SO-DIMM DDR3), and depending on the model might even have room for a 2.5" SSD or HDD in it. The broadwell i5-5200U makes for quite a reasonable compact workstation and boxes based on it will be almost universally dual-headed. Of course, whatever floats your boat but I would definitely say that the lowest-priced Intel NUC or Gigabyte BRIX that is haswell-based or broadwell-based is still going to be an order of magnitude better than the compute stick.
I have one of the Gigabyte GB-BXi5H-5200's myself ('H' version fits a normal 2.5" SSD or HDD) and packed 16GB of ram into it. It is dual-headed so I can drive two displays with it and the box is small enough to mount on the back of a monitor if you so desire (it even includes a mounting plate and most monitors, such as LG monitors, are ready to take it). And if mounting it on the back of a TV doesn't make sense, mount it on the back of a monitor instead or just let it float behind the monitor. It's a small box, after all, it won't get in the way of anything. 4-thread (2-core), 2.2 GHz turbo to 2.7 GHz. Dual-head. Decent.