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It would be nice but I doubt the new model is already on the way. I feel like Apple is going to drag this out across 2021 as everyone waits for their machine to be updated to Apple Silicon.

I think most people assume the iMac is going to make use of an M1X or newer chip, but I would not be surprised if the entry level iMac is replaced with the current M1.
In my view the M1X will be a slightly more powerful M1. Perhaps simply an over clocked M1. I do not expect a complete new architecture for the 24 inch iMac, but I expect it will cost close to 1000$. They should use it a cheap gateway to services just like the MacBook Air is.
 
Who would want a computer with only 1 TB of storage anyway?

Wait, what do you mean that's the biggest configuration they sell? Are you serious? I have twice that much storage in my four-year-old MacBook Pro, and it's still not a tenth as big as I'd like. What the heck, Apple? But I digress.
21.5" iMac: 1 TB storage max
27" iMac: 8 TB storage max

M1 Macs: 2 TB storage max
4-port 13" MBP: 4 TB storage max
16" MBP: 8 TB storage max
 
Um, no. You can get spinning drives up to 18TB right now (Seagate). Not sure I would trust them though, that's a lot of data to lose WHEN the drive dies. Even in a RAID1 configuration, I question the longevity. Get that data into the cloud pronto if you don't already have it backed up offsite. If you're really serious about a ton of local storage, get something like a Promise Pegasus TB3 unit with 6 or 8 bays and do a RAID6 with NAS-style drives...
One drive: dies once every ten years
Ten drives: one of them dies every year

The difference is only how much data you have to restore in one go.
 
I remember in 2015 EVERYONE thinking there HAS to be a FULL iMac redesign "this year". Everyone was hanging on it.

It is 2021. Classic Apple.
 
Just remember there is no HDCP support with that monitor so no Disney+, Amazon Prime video or HD Apple TV.
So on my 2019 MacBook Pro 16" that's hooked up to my 5k LG UltraFine, I just did a sneak peak of Power on Netflix, no issues. I did WandaVision Episode 8 on DisneyPlus as well. No issues.

I'm guessing the HDCP issue maybe tied to Mac minis?
 
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So on my 2019 MacBook Pro 16" that's hooked up to my 5k LG UltraFine, I just did a sneak peak of Power on Netflix, no issues. I did WandaVision Episode 8 on DisneyPlus as well. No issues.

I'm guess the HDCP issue maybe tied to Mac minis?
That's interesting.

I just tried it with Windows on the Mac Mini via Bootcamp and that works as well although if I query the monitor it says no HDCP support. Nothing works on the Mac side though.

So I then went to test it on Chrome and that seems fine for Disneyplus and Amazon (but doesn't help with the Apple TV app). It seems it might be a Safari problem.
 
That's interesting.

I just tried it with Windows on the Mac Mini via Bootcamp and that works as well although if I query the monitor it says no HDCP support. Nothing works on the Mac side though.

So I then went to test it on Chrome and that seems fine for Disneyplus and Amazon (but doesn't help with the Apple TV app). It seems it might be a Safari problem.
I was using Safari and I'm not seeing an issue here. I speculated it was a Mac Mini issue because it doesn't have a builtin display like a MacBook Pro which is basically mirroring to the LG.
 
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