https://markellisreviews.com/apples-most-popular-mac-might-surprise-you/My hunch is that Apple estimates that the Venn diagram of customers who want a big 5K+ display overlaps signficantly with customers who need faster Macs -- and who are interested in updating their CPU separately from their display.
As much as I like my iMac M1 and appreciate the simplicity of the design, I do recognize that the separated CPU model gives me a ton more flexibility and a cleaner upgrade path. I can pair an Apple Studio Display (or any other) with any other computer Apple sells, from a MacBook Air to a Mac Pro, and I can switch horses at any point if my needs change.
"We discover that the Mac mini and Mac Studio grab just 1% of the Mac market share each."
This echos the sentiment many have here and clearly we are speaking with our wallets, NO INTEREST AT ALL in the Studio and a Mini combo. Based on sales numbers that Venn diagram is completely off.