Its an odd choice IMO even if profit margins is the reason.
...so the reason is probably (as people keep pointing out and being ignored) the extra noise and heat in a confined space, not simply profit margins (although, of course, Apple are never gonna turn down the opportunity for profit if they can find a technical justification).
What is down to profit margins is Apple's decision to make everything ultra thin & light: people will pay more money for sexy thin boxes, whereas the basic mini-tower (which is what most Mac power-users really want and/or need) is something of a commodity item with poor margins.
The reason the 1TB/5200rpm iMac exists is that Apple need a mass-market box on the shelves at Best Buy with "1TB" written on the side, for the customers who "know" that 1TB is better than 256GB. Anybody with a bit more knowledge will do the research and either go for the 2/3TB Fusion Drives or realise that having spinning rust inside an iMac is silly and settle for a 256GB SSD and keep their archives on cheap external or NAS drives.
Maybe, Apple assumed when they re-designed the iMac (some years ago now) that by 2017, SSD would have fallen in price far more than it has and the hard drive would have been history. As it is, even a regular 1TB SATA drive costs several times as much as a basic 1TB HD.
So to me its odd they would use complete polar opposites between their HDDs and SSDs.
Well, the iMac straddles two roles: the entry level iMacs are amongst Apple's most affordable/best value machines - a comparable 3rd-party display would cost almost as much as the whole computer. If you're using Office, Safari and Mail all day then having a slow-ish HD isn't going to be much of a handicap. However, the top-end iMacs are Apple's most powerful computers - and those customers are going to appreciate the top-of-the-line PCIe SSDs.
Having a middle tier of "basic" SSDs would really just muddy things - and we do know that Apple like to keep their line-ups relatively simple.
Now, where Apple do come off as greedy is the miniscule SSD component in the 1TB Fusion Drive options...