You'll need to wait until Thunderbolt 3. And even then there's no mention of the correct DisplayPort format being included in the spec.
If you look back at the info on TB3 you'll see that it only specifies DisplayPort 1.2
but can run two full DisplayPort 1.2 connections over a single cable - i.e. logically the same as the two-cable solution used by the Dell 5k display, but with a single cable. I assume, though, that that would have to be a thunderbolt 3 cable, and the display would need a TB3 controller to extract the DisplayPort signals.
The USB-C spec supports
DisplayPort 1.3 alt mode. This is a bit like Thunderbolt's 'legacy mode' in that it physically sends DisplayPort signals over the USB cable and can drive any DP device given a suitable cable, but a bit more flexible in that it allows for some wires to carry DP while others carry USB3.1. USB-C with DP1.3 can run 5k over a single cable - however, that uses up all 4 high-speed cable pairs leaving just USB 2 for 'docking'.
I'd guess that TB3 will drop its own "legacy mode" in favour of USB-C/DisplayPort alt mode. What's not clear is whether this will still allow for DP1.3 support in this mode. If it can't that's going to be a pain with future third-party displays.
Overall, it sounds like TB3 will have the edge because it can drive a 5k display and still have some TB bandwidth left for 'docking' fast peripherals, but I strongly suspect that USB-C will become the de-facto, if not official, standard connector for DP1.3, since it doesn't need an active cable and an expensive TB controller in the display.
Maybe Apple will stay out of the display arena until this all settles down. I'm not sure the idea of using a display as a single-cable dock
for high-speed peripherals makes such sense in the age of bandwidth-guzzling ultra-high-def displays. Power, keyboard, sound & mouse maybe - which USB-C can handle nicely.