But if you did not have a RAID on the iMac, could you not run a 5K display off each of the two TB3 ports?
...people still haven't got the hang of Thunderbolt and 5k:
The new iMac has one Thunderbolt controller, giving two TB3 ports.
Each TB controller supports two Displayport 1.2a streams.
...but to run a 5k display, you need both of those DisplayPort streams (even though they both fit down one cable).
Hence, you can only run one 5k display per TB3 controller.
The MacBook Pro and the upcoming iMac Pro each have two Thunderbolt controllers giving 4 ports, so they can support two 5k displays.
To summarise: Intel threw two spanners in the works:
(A) They only supported DisplayPort 1.2a in Thunderbolt 3. DisplayPort 1.3/1.4 can do single-stream 5k.
(B) Kaby lake was rumoured to have an on-chipset TB3 controller, so the iMac could have had 4 ports/2 controllers for the price of one. But it didn't happen - so, waiting for European Wine Lake (or whatever its called).
hence the MacBook Pro supports more displays and more pixels than the iMac. Bizarre.
I think I could just about muddle through with one 5k flanked by a pair of 4ks...