As of right now, I see very little reason why Apple needs a Apple branded display.
Because price/quality and it matches the iMac for dual display users.
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YES! I don't care if it's 4K (which will render UI too small on a 27" screen without HiDPI scaling to 1080p).
Just update the design and ports.
4K works well on 21.5"
1080p scaling would be too big on a 27" monitor.