Offwhite in bathrom

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The huge benefit of a linear fireplace, if you plan to place a TV overtop, is that that TV can be placed on the wall within a comfortable line of sight.

I don't see anything wrong with the fireplace and TV,............except for a few adjustments.

1. All the clutter should be removed
2. A larger size screen should be purchased while the prices are amazing low. They will not be for much longer.
3. Remove the box below the TV. It's not required
4. Place the sound bar below the screen
5. You might want to consider selecting a deeper color for the wall.

Here are examples of the TV with the fireplace below.

No benefit for me. My vote is to remove it in favor of lowering the tv and a larger tv now or in the future. The good thing about the fireplace, it can easily be installed in another location. Say, master bedroom. Or it will sell quickly on Marketplace.

I feel the fireplace does nothing for the room and it looks so sparse on that huge wall. The space would be better utilized with console or even a much larger unit with tall bookcases with storage below covering the wall.

Why not check out Besta from Ikea after you remove the FP . You can out the pieces together to make that whole wall look custom with the TV at the proper height a place for toys and audio and some display space too if you want it. Make that whole wallwell thought out just for you.This only one way to put the pieces together but so much better than what you have

Removing it to get better storage and a more balanced and interesting focal wall, I think is a good idea. Lots of options, but it depends on your budget, needs and taste. Search Houzz, Pinterest and Instagram for 2-story great room wall with tv and storage. Suggest holding off buying anything until you decide on what suits you best.

With molding:

Adding height: