Removing the TinyMCE editor for a given page template

You can try to hook on load-page hook instead of admin_init. It is supposed to be called only when a page is being edited, and then you should be able to use the global $post variable

function hide_editor() {
   global $post;

    $template_file = get_post_meta($post->ID, '_wp_page_template', true);
    if($template_file == 'page-home.php'){ // template name here
        remove_post_type_support('page', 'editor');
    }
}
add_action( 'load-page', 'hide_editor' );