The whole Mac mini / Studio vs iMac discussion misses a few points
1) Most third party monitors simply don't look as good as what you can get from Apple (either from as the Studio Display or in the current iMac) from an aesthetics standpoint
2) The iMac includes key peripherals like a speaker, webcam, keyboard and pointing device - many people don't want to buy these from a third party, or separately from apple
3) Spec-ing a complete solution from Apple (keyboards, trackpad, monitor, computer) costs more than an equivalently powered iMac (based on current pricing)
The challenge Apple will have is the screen size and pricing. A lot of people on here seem to be asking for a 30" or 32" screen size with this device. A monitor of that size, with Apple's required resolution and whatever other upgrades people want (like 120hz), along with a quality webcam and quality speakers (both required in today's environment where people are doing video calls) would seem to cost a lot of money. I don't see Apple making a bunch of different displays at different price points to satisfy different requirements.
What Apple could do is simply bump the current iMac screen size to 27 inches (or introduce it along with the 24 inch) and also add this new iMac Pro at 30" or more. That would seem to satisfy the most users. But for some reason, Apple has been hesitant to dive all into creating a bunch of iMacs at this stage.
In terms of Apple's overall strategy, Mac mini and Mac Studio seem to be popular on here, but I see few of them in the wild. The issue is that for most users, laptops are as powerful as these machines, so I don't think the average user sees an advantage in getting a desktop setup. For me, my dual computer setup (laptop and M3) works great, mainly because the M3 iMac by itself cost just about as much as an Apple Studio Display - and it included a keyboard and trackpad.