27" is already nearly retina at the current resolution (2560x1440). There is no need to pixel double it to make it retina - unless you're not understanding exactly what ti is that enables a screen to be classed as "retina".
The formula considers distance from the screen as well as pixel size. The current 27" inch screen is 90% of the way to being retina. While pixel doubling is one way to make the transition "easy", it is not essential.
If we're going to see a "retina" iMac then it will be in the guise of a 4k display that is running in high dpi mode, or a panel with a modest increase in density over the current 2560x1440 one.
Of course, that doesn't even address the problem of how you're going to drive such a display adequately.
Sure, the viewing distance for a desktop monitor is greater than the mobile devices and that desktop "retina" displays would need less pixel density. But the current 1440p displays definitely aren't "nearly retina". 1440p on 27" screen yields 108PPI, simply not enough density to rival clarity of iOS devices even after factoring greater viewing distance. Sitting further away doesn't change much as the texts become harder/unreadable at that point.
As for the GPU power to drive the display, the only solution that comes to my mind (with current technology) is to use desktop class GPU. This will be sufficient to drive retina or 4K display except for games but games aren't very big part of Mac to begin with...
If Apple wants to stick with mobile GPUs, which is likely, then I think we need at least one or two generation of GPU architectures (excluding Maxwell) from Nvidia to see retina or 4K iMacs.