It's interesting (but socially a tad dangerous) to speculate on what sort of person buys a given Mac product. Accepting that there is a wide range and there are exceptions, where the iMac is concerned, I think these ideas are reasonable:
1.) They're not highly concerned about top class performance, because a base M4 is quite powerful and people 'highly concerned' by preference, work flow needs or both would've opted for a Mac Mini or Mac Studio (with an M4 Pro or M4 Max). Think about it; if they really wanted base M5 speeds, they could've bought that last year by getting a higher level M4 chip.
2.) People hung up on top-of-the-line gear might be be content with 24" desktop Mac screens as their primary display.
3.) The M4 iMacs appeal to value-conscious, aesthetically sensitive users who aren't highly demanding (e.g.: demanding 48 gig RAM, M4 Pro or higher performance, 27 or 32" screen).
I understand the tribalistic good humor driving the original post. I'm also a literalist, which drives my wife nuts because even grasping humor I tend to respond literally.
It will be interesting to see how many generations of new iMac (if they stick with the current 24" form factor) are required to make the upgrade from an M4 iMac a compelling proposition. I wonder how M1 iMac users view the M4 iMac?