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Now being reported mac mini with a 12 core M2 chip out soon.
The rumour was that there is a M2 with 10 cores and 9 or 10 GPU cores and a M2 Pro with a 12-core CPU.
Is this what was mentioned to be the final machine?
No, the one missing Mac is the Mac Pro, John Ternus literally said that.
If so will it be more powerful and expensive?
It will not be more pwerful than the Mac Studio. The M2 compared to the M1 is expected to improve in performance by around 20%. So will the M2 Pro compared to the M1 Pro. But we don't have any good information. It also depends if the M1 architecture is based on A15 or A16. M1 was based on A14.
Will it be a better option potentially than the lower end Studio? If so why, and why have 2 similar machines?
It will be cheaper than the lower end Studio. But it will have less performance too. The machines are not that similar. At the moment there is a huge performance gap in Apple desktop lineup: There is the Mac mini with M1 for ~$1000 and there is the lowest end Mac Studio for $2000. There is something with M1/M2 Pro price and performance missing in between.
 
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