Streaming to a different TV would make sense if the streaming capability can handle it. Lets say you want to play a Zelda game in co-op, one player can use a Wii remote and nunchuck on the regular HDTV while the other player sits in the bedroom and plays on a second TV with the Wii U controller. Or he/she can also connect it to a computer screen and sit really up close (HDMI->DVI converters would also work with this scenario).hooking it up to a tv in a different room streaming the content from the Wii U console to the controller back to a different tv...?
lol I have no idea, maybe there'll be a difference in quality with streaming it wireless?
If the Zelda game supports 1080p in single player it would push 2.073.600 pixels/sec (1920*1080) and two screens with 720p would push 1.843.200 pixels/sec (1280*720*2). The controller and console probably wont be able to handle that kind of streaming power but we might get 480p for the second TV/monitor.
Right now we can really only make some wild speculation on what this extra HDMI port will be used for...