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There are nontrivial efficiency costs to moving RAM and storage external.
External to the CPU - of course.

External to the display - no. If parts replacement is your priority then a Mac Mini/Studio + separate display is your answer. The Mini/Studio SSDs are already on replaceable modules (it's upgrading that Apple are blocking) and even though the only cure for RAM failure is a new logic board that can be done without taking a pizza cutter to the display and having to replace all the adhesive strips.

The thermal benefits from moving the power supply external would also be nontrivial for small, thermally restricted designs like the iMac and mini.
Yet the mini and previous iMacs have always got on fine with internal PSUs - since when processors have only got more power efficient. Apple have even managed to make the Mini ridiculously small and keep the internal PSU. The big thermal limitation with the iMac is having the CPU/GPU/Storage and display sharing the same unnecessarily small housing.

The PSU was pretty obviously moved from the Mini purely for the sake of making the display an ultra-thin slab for no practical reason. With the handy upshot of making it too thin to accommodate an ethernet socket... Previous iMacs used a clever tapered design to accommodate what was needed while still looking slim.
 
The 5K screen was a great monitor to work with and the iMac itself powerful to handle all the tasks.
For most of the life of the 5k iMac there was no viable alternative if you wanted a mid-power desktop Mac - let alone a 5k display. The Trashcan was an expensive flop (and rapidly turned into abandonware) the 2014 Mac Mini dropped the more powerful Mini options and even the 2018 Minis were hindered by weak Intel integrated graphics. The 2019 Pro & Pro XDR display was priced into a completely different market. The M1 Mini was a step forward but not exactly a powerhouse c.f. the 2020 Intel iMacs.

...and, come 2022, when Apple finally released the Studio range (including the first Apple-branded 5k display), the 27" iMacs were immediately discontinued.

So we've really not seen what the market would decide given the honest choice between a large-screen iMac and a mid/high-end headless system - because Apple have never offered a choice. All you can really tell from a studio full of iMacs is that they decided to stick with Mac between 2012 and 2022 rather than switch to PC (most likely because of retraining costs).

Now we have the additional factor that there's no longer any substantial performance advantage of mid-range Mac Desktops over MacBook Pros + lots of pressure for flexible working.
 
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That's almost DOUBLE the price for the Mac mini + Studio Display.
3 extra inches on the display are definitely not worth that much.
Yeah - claiming that a Mini + Studio Display + all the trimmings is similar to the price of an iMac is a bit of a stretch. The Studio + Studio Display combo is closer to the price point of the old top-end iMac+32GB RAM (at Apple prices - with the rationalisation that the cheap 3rd party RAM upgrade option was always going to vanish with any Apple Silicon iMac) and more powerful in most respects. Alternatively, at launch, the 32GB/1TB M1, 32 core GPU Studio ($2400 + $1600 for the display) was a pretty solid upgrade from the $5000 iMac Pro, for $1000 less.

But, no, there's really no replacement for the old $1800 entry-level 5k iMac which almost threw the display in for free.

However, if you'd bought an M1 Mini/Studio + Studio Display back in 2022 you might now be wanting to upgrade to an M4 - in which case you'd still have a perfectly good Studio Display, mouse and keyboard to re-use, and the display will probably still be worth having, maybe not cutting edge, when you replace your M4 with an M8....

Now, if I were buying today I think I'd wait for a Studio Display update - because although the 5k IPS/LED edge-lit tech has stayed relevant for the last 10 years, I'm not sure it will be good for another 10 years & might be replaced by mini/mirco LED, OLED, and/or higher frame rate and/or cheap 32" 6k Real Soon Now. However, that's even more reason for not wanting the tech baked in to a new iMac when you could get a Mac Mini plus some stop-gap third party or refurb display while you wait.

The case with the iMac has always been that it's a steal if it ticks all of your processing and display boxes for the next 5+ years" - but if you want any flexibility in terms of display type, or plan on carrying over displays that advantage rapidly diminishes. Personally, I wouldn't want the Magic Mouse/Keyboard anyway - even when I had an iMac I replaced those with alternatives - and I want a dual-display setup - preferably with matching displays, which pretty much rules out Apple displays on cost grounds.

The realistic question is, does anybody actually think that Apple would release a 5k iMac for less than the cost of a Mini + Studio Display?
 
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Should iMac have an internal power supply like the previous generation?
Should it be 27" instead of 24"?
I am on the fence between iMac 24" ( small screen + ext power brick ) vs Mac mini M4....
Let me know your thinking.
That's not really the choice. The choice is iMac vs. Mac mini + what display? You're not going to find a better quality display on the market for anywhere near the differential in price of iMac - Mac mini.

This isn't about which computer. It's about what display you want to look at.
 
For most of the life of the 5k iMac there was no viable alternative if you wanted a mid-power desktop Mac - let alone a 5k display. The Trashcan was an expensive flop (and rapidly turned into abandonware) the 2014 Mac Mini dropped the more powerful Mini options and even the 2018 Minis were hindered by weak Intel integrated graphics. The 2019 Pro & Pro XDR display was priced into a completely different market. The M1 Mini was a step forward but not exactly a powerhouse c.f. the 2020 Intel iMacs.

...and, come 2022, when Apple finally released the Studio range (including the first Apple-branded 5k display), the 27" iMacs were immediately discontinued.

So we've really not seen what the market would decide given the honest choice between a large-screen iMac and a mid/high-end headless system - because Apple have never offered a choice. All you can really tell from a studio full of iMacs is that they decided to stick with Mac between 2012 and 2022 rather than switch to PC (most likely because of retraining costs).

Now we have the additional factor that there's no longer any substantial performance advantage of mid-range Mac Desktops over MacBook Pros + lots of pressure for flexible working.
We all know why this happened. It is written all over every decision Tim Cook makes these days. The 5K iMac was a steal for years. They were basically giving away the Mac part for free, while you paid essentially the price of the 5K display.

There is no 5K iMac anymore, because Apple would prefer that you pay the much higher combined price of Mac mini or Mac studio, + Apple Studio Display.

Truth be told, I would actually support this decision to modularize the parts more so that professionals have more options and can upgrade different parts at different times....IF the Studio Display were not so ridiculously overpriced and limited. Any other monitor on the market comes with both an adjustable stand AND VESA mounts. The version with the adjustable stand is almost $2k, and still cannot be VESA mounted. For VESA mount, you have to pay the same amount as the version with the regular stand, and you get no stand. It's an incomprehensible product. All for a display with mediocre accoutrements.

ASUS is about to release a 32" 6K display for less than the standard Studio Display, with better I/O.
 
One reason I’d still consider the iMac is because of the 24-inch monitor. 27 inch is just too big for me and unfortunately it’s harder and harder to get high quality (hiDPI, etc.) monitors that aren’t at least 27”.

Hell, if they still sold the 21.5” iMac I’d get that.
 
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Mac Mini + Studio Display is infinitely better than the iMac imo.

It means you can upgrade more easily and don’t have to throw away perfectly functional components like the screen, web cam, and speakers in the future.

I still bitterly have a 2011 iMac that is largely unusable but the screen on it still looks beautiful. Wish it could just be used as a display…
I agree that the separate components make more sense. We had 2 of the 5K iMacs and definitely miss those times, especially the ease of upgrading RAM (128GB in our last one!). Have moved on to Mac Studio + Mac Mini, now we can upgrade by swapping the Mac while leaving the rest of the components alone. Can also dock our MBPs easily by swapping a single TB cable.

Your 2011 iMac should have the ability to be used in Target Display mode, either over TB or DP, IIRC.
 
I think the iMac is, sadly, right back where it should be in Apple's overall lineup. A solid desktop for consumers, who can most afford to deal with the restrictions that come with an AIO design. The 5K iMac was a steal for people like me (wedding photographer) who need the best possible display to edit on and as much RAM as possible but can't spend $12-13K on a MP + Pro Display XDR.

Now that the Studio is available, it's become the go-to, and we actually managed to upgrade for a total of about $3250 from our old iMac (sold it for $1000, too!) which is between the prices we spent on our 2 5K iMacs over the years (about $4K for the first one, closer to $3K for the second). When the M2 Max shows its age, we'll upgrade just the Studio and I doubt we'll spend more than about $2500 even with substantially upgraded RAM.
 
I dislike most of the whining that is involved with the current iMac. However, I do think these small changes would make it appeal to even more people:

1) Offer a larger version - whether it is 27 or 30 inches, offer it to just to give people need that space that option

2) Offer it in a "dark" version - space grey color with black borders. No other design changes. I don't get the issue with the external power supply, it sits on the floor anyway. No big deal.

3) Offer the Pro chip, similar to the Mac mini. Offer it in both the 24" and larger models. No Max or Ultra or whatever, if you need that, get a Mac Studio or MacBook Pro
 
I agree that the separate components make more sense. We had 2 of the 5K iMacs and definitely miss those times, especially the ease of upgrading RAM (128GB in our last one!). Have moved on to Mac Studio + Mac Mini, now we can upgrade by swapping the Mac while leaving the rest of the components alone. Can also dock our MBPs easily by swapping a single TB cable.

Your 2011 iMac should have the ability to be used in Target Display mode, either over TB or DP, IIRC.
Target display mode is supported by my iMac yeah but not by my M1 MacBook Air or M1 Mac Mini that replaced it, sadly.
 
As early a 2021 I really wanted to retire my 2012 iMac 27" 2.5K but I want a 27" or larger display and don't want to spend extra for separates as I replace every decade due to my non-tech work.

Below are the 32" 6K displays available today.


ModelLaunch DateLaunch PriceKnown Lowest Price
Apple Pro Display XDRDec 10, 2019$4,999–$5,999~ $4,500 (rare resale)
Dell UltraSharp U3224KBMay 2023~$3,199~$2,560 (Dell sale)
LG UltraFine 32 6K (32U990A)Announced Jan 2025TBD (~$2,480?)n/a
ASUS ProArt PA32QCVAugust 2025$1,299n/a

I hope ASUS' price is a sign that prices for 32-inch 6K display parts become cheap enough for a 32-inch 6K iMac to start at $1,799.
I am really looking forward for the Asus display. I am buying next year an imac mini or studio (depending on any updates in 2025-2026 etc) and will pair it to the Asus display. (to replace my 2013 macbook pro)
 
One thing the iMac should not be is 32” or more. A 32” all in one is just too big. Some people move their iMacs around their house on occasion. If you want huge workstations with 32” screens (or multiple ones), those monitors are freely available to you now. And Apple sells many inexpensive computers that can connect to them, including laptops
 
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