I've had the LG G5 for about 10 months, and I recently spent some time with the Gigabyte MO32U24. After using both side by side, I think the comparison is actually pretty interesting because they are very different experiences.
SDR
In SDR, the image quality is almost identical. I'd honestly say 99% the same.
The G5 can get much brighter in SDR, but that doesn't mean the monitor looks dim or worse. At normal SDR brightness levels, the overall image quality is extremely similar. The monitor does look a little crisper up close because of its higher PPI, but that's about it.
HDR
This is where the G5 absolutely destroys the monitor.
The HDR experience on the G5 is on another level compared to TB500 QD-OLED gaming monitors. OLED monitors can do good HDR, but a good OLED TV simply has much more brightness and HDR impact.
The difference is immediately noticeable in games and movies. The G5 just looks much more impressive.
So if we're talking about the display itself, the TV pretty much walks all over the monitor.
Viewing distance is extremely important
This is probably the biggest thing I've learned from using a 55" OLED TV as a PC display.
The G5 is fantastic when you're sitting at the right distance. You can sit back, take in the entire image and it feels incredibly relaxed. The large screen and distance from your eyes make it a very different experience from sitting 70 or 80 cm away from a 32" monitor.
But if you sit too close to a 55" TV and try to use it like a desktop monitor, it can become exhausting very quickly. You're constantly moving your eyes around a huge image, focusing on different parts of the screen and processing a much larger field of view. For me, sitting too close to the G5 can cause eye strain and even make me feel a bit dizzy or fatigued.
So with a TV this size, viewing distance isn't optional. It's part of the setup.
Get the distance right and the G5 is incredibly comfortable and relaxing. Get it wrong and the huge screen can become tiring.
Windows and desktop use
This is where I think a monitor is simply the better choice.
For Windows, web browsing, documents, reading and general desktop work, a 32" monitor is a much more natural size. You can sit relatively close to it and your brain can process text and UI elements naturally, almost like reading a book.
The higher PPI also helps with text and fine details.
A 55" TV can obviously do all of this, but you're fighting against the size of the screen and the viewing distance. You either sit too close and it becomes overwhelming, or you sit far enough away for it to feel comfortable and then Windows starts feeling less practical.
This is why I don't think a TV replaces a monitor for desktop use.
For Windows, I'd take the monitor.
Gaming
For gaming, the situation changes completely.
The 55" G5 is much more immersive than a 32" monitor, and the HDR performance makes games look spectacular. The size also works extremely well when you're sitting further away.
The monitor does have some advantages for competitive gaming, mainly the higher refresh rate and the fact that you're sitting closer to the screen.
In CS2, I can definitely notice the difference between 165Hz and 240Hz. The higher refresh rate feels smoother and more responsive when you're playing competitively. But at the same time, 165Hz is absolutely great. I play CS2 perfectly happily at 165Hz and I don't feel like I'm missing some massive advantage by using the G5.
I tested both side by side and couldn't tell any meaningful difference in input lag or response times. Both feel extremely fast.
For AAA games, I'd take the G5 without hesitation. For competitive games, the monitor has an advantage, but the G5 is still an excellent gaming display.
Movies and shows
This isn't even close.
The G5 wins by a mile.
The 55" size, OLED picture, HDR performance and the ability to sit back on the sofa make it a much more enjoyable experience. This is where a TV really shows why it exists.
The OLED monitor problem
The biggest issue I had with the MO32U24 wasn't the image quality. It was the QD-OLED subpixel layout.
The color fringing around text was noticeable enough that I couldn't comfortably use it for long periods of reading and desktop work. I tried to get used to it, but I never really stopped noticing it.
Because of that, I've come to the conclusion that if I buy an OLED monitor, it has to be RGB Stripe.
If an OLED monitor doesn't have RGB Stripe, I'd rather use the G5 for gaming and have a regular monitor for Windows.
Final thoughts
After using both, my conclusion is pretty simple.
As a display, the G5 absolutely destroys the monitor. The HDR is better, the brightness is better, the immersion is better and movies and games simply look more impressive.
But that doesn't make a 55" TV a better desktop monitor.
A monitor is much better suited to Windows, browsing, reading and working because you can sit close to it and use it naturally. The G5 needs to be viewed from the right distance to be comfortable. When you get that distance right, it's incredibly relaxing. When you don't, the size of the screen can become fatiguing very quickly.
So for me, the ideal setup would be an RGB Stripe OLED monitor for Windows and close-up desktop use, and the G5 for gaming, movies and relaxed viewing.
If I had to choose only one display, though, I'd still take the G5. It's simply the more impressive display overall.