I mean the iPad Pro and iPhone 13 Pro have it so I’m pretty sure it’s bot as expensive as you think it is
Just to clarify, I'm not saying I think it will be expensive, I'm saying I have no idea (as is typical for me

).
You mentioned the iPad, so I looked into this. According to this article from cult of mac:
"The
original rumor from China claimed the iPad mini 7 would feature an upgraded 120Hz display. [Display analyst Ross] Young, however, believes it is unlikely to happen. Apple currently uses an “a-Si LCD which isn’t compatible with ProMotion,” he says in
response to a tweet. This technology is fairly cheaper than the Oxide LCD tech used for the iPad Pro’s 120Hz panels."
Display analyst Ross Young has debunked a rumor claiming the iPad mini 7 could debut with a 120Hz ProMotion display. He says it would be surprising if the
www.cultofmac.com
So it seems plausible that, if the Studio Display already uses oxide LCD tech, 120 Hz should be inexpensively achievable (there is the issue of how to drive it, though). OTOH, if it uses the less expensive Si-LCD tech, and oxide-LCD is expensive to produce for larger displays, then switching could be costly.
Now you could argue that if the oxide-LCD is affordable in the iPad Pro, it should be affordable in the Studio, regardless of what the Studio uses now. I don't know if that's the case. Again using my naive argument: The 12.9" iPad Pro starts at $1100. If you assume half of its cost is the display ($550), then proportionately, based on area, a 27" should cost $2400. So the fact that Apple can sell an iPad Pro with a 12.9" display for $1100 doesn't mean they could put that same type of panel in a stand-alone 27" and sell it for $900.
So, again, I think it comes down to what type of display tech is in the Studio now, which I've not been able to find with a few minutes of Googling—The 32" Pro Display XDR does use oxide-LCD, but I couldn't find anything about the Studio.