Resolution is a pretty important spec for a display. The most important spec, really. And it isn't just a question of 4K vs 5K...macOS doesn't scale properly to a 27" 4K display and looks terrible as a result.
That’s an exaggeration. I’ve currently got a 4K 28” sitting next to my 5k iMac and, yes, the 5k is sharper, but the 4K (in scaled mode) is still very clear, and a pretty close second. 4K, 27” at desktop viewing distance meets the “retina” criteria, going beyond that takes you into diminishing returns. The extra GPU load of scaling might be a problem if you have Intel integrated graphics, but shouldn’t be an issue with a decent GPU.
Or, look at getting a pair of 24” 4ks to run in optimal hidpi mode, or a 34” 4K that you can use a bit further away in 1:1 mode, or an ultra wide 5k2k screen…
Its not about whether 5k is better - of course it is - it is whether it is worth 2-3x the price of a decent 4K display.
With the iMac you were “paying” about $800 for the screen (iMac prices c.f. a comparable Intel Mac Mini) - which was almost a no-brainier for the “sweet spot“ of 5k. Apple now want double that (even if you buy it with a $2000 Studio).
The webcam problem means that Apple have really shot themselves in the foot on this one, since one of the few justifications for the price was getting a seamless camera/sound/mic setup. The sound… well, yeah, “best sound
out of a display” is kinda faint praise, and still isn’t going to match the sound of a pair of half-decent studio monitor speakers… and surround from such a system is a gimmick. The 96W power is irrelevant for a desktop system, as are the USB ports (anyway, most 3rd party displays have a USB hub).
This sounds, spec-wise, like a consumer MacBook docking station, not a companion for the Mac Studio.