seeing if you can improve that sounds like a great electronics project, good luck with it
In today's day and age, essentially every piece of consumer electronics can be improved upon, especially when it is low-end/cheap to begin with.
But why it is cheap, comes down to manufacturing cost. Sure, manufacturer can make a better product, but that takes more time and/or better components - which in turn increase the final retail price. And not everyone want or even can afford to buy good products. Hence why there is a HUGE market for cheap products. Since when no-one would be buying the cheap and poor products, manufacturers wouldn't even make them (pointless to spend time, money and resources for a product that no-one isn't going to buy).
In my opinion its not a very good heat sink.
It isn't a heat sink to begin with. Heat sink has fins for better cooling. What you have there, is heat spreader, which can also be called as cold plate.
But i do agree with RAIDGoblin, that the one you have, is custom made for that specific TV.
This is A ACER smart tv from India.
Did look a bit more into those TVs and they are not official Acer TVs.
What you have, is probably one of these?
Lineup:
https://acertvindia.com/product/
If so, the Indkal Technologies Private Limited is just paying Acer to use their name and trademark with the TVs the Indkal is producing.
So, best to contact Indkal and ask them about further info, since at the end of the day, they made it. Acer name is just on the TVs for marketing purpose. (Better to sell products with known name on them, like Acer, rather than unknown name, like Indkal.)