Oh absolutely! But here's the thing; I'd rather they keep the new ARM systems' CPU TDP around the same as Intel's and give us kickarse performance than to use the better performance per watt to reduce TDP and give us uselessly thin desktop machines at the same performance level.
If the cooling systems of new non-Pro iMacs are similar to the old ones, I'd prefer they use cooler CPUs, because the current top-of-the-line ones are too loud.
Back in 2017, I bought a Core i7-7700K 91 W TDP iMac and returned it after a week because anything CPU-intensive would cause the fan to ramp up to max really quickly. It was really annoying. I returned it and got a Core i5-7600 65 W TDP iMac instead, and I'm much happier. It takes way, way longer for the fan to hit max, so for the vast majority of my usage, it is effectively silent. Reviews state that the current i9 iMacs are worse than the i7-7700K was, or at best similar.
OTOH, even better would be Apple improving the cooling system. They could even adopt the cooling system from the iMac Pro. According to reviews, that doesn't ramp up to loud mode anywhere near as fast as the i9 iMac models, despite having higher multi-core CPU performance than the i9.
No-one's suggesting they will
I think there is at least a small possibility they'd release a new form factor with Intel Inside®.
Why would you buy an Intel Mac now ?
Software compatibility.
If you're someone whose bread and butter work is highly dependent on an established Intel Mac based workflow, then it doesn't make sense to jump into Arm right at release, because there are bound to be various compatibility issues. Also, for those who buy on a 3-year cycle (with Apple Care), it's an easy decision, because if they buy in 2020, they can always replace it with an Arm machine in 2023. Remember, raw CPU performance is not the only reason to buy a new machine, and in fact, for a lot of workflows, it's not even within the top 3 considerations.
BTW, Arm Macs will not support any version of macOS before Big Sur. This alone will give some businesses pause, given that so many software companies take months before officially supporting new versions of macOS.