Buy the 5700 XT because you want and need that performance now, not in the future. These 2020 iMacs are about as far from being "future proof" as a computer can be. (BTW "Future Proofing" and "Buy the Best that You Can" are mantras that make little actual sense, especially in tech.) Set aside for the moment the AIO design, the thermal limitations, the inability to upgrade. Consider that if you get one of these, in four years you will be working on system that very likely doesn't run whatever is then Apple's current OS, has been vastly eclipsed in both performance and features by Apple silicon, looks awfully dated next to the new 6K or 8K 32-inch iMac, and may no longer run the current versions of whatever applications you're using it for. Consider also that this graphical glitch may persist throughout your ownership of the machine. The issue is likely software related, but this hasn't been confirmed. Even if it is software related, there is no guarantee that Apple (or AMD) will correct this.
There are a lot of legitimate reasons for getting one of these 2020 iMacs and getting the 5700 XT, but don't get it in the expectation that you may need that graphical performance in the future. It's a such a small reward especially if you have to suffer through an unpleasant ownership experience to get there.
Actually I don't think we should set aside the AIO design. The non-upgradable AIO design is an argument for specifying everything you thing you might need over the lifetime of the computer. Also in four years I expect this Mac to still run the latest version of MacOS. The last Macs sold will be covered by Apple Care. Not supporting them with the latest version of MacOS pretty much guarantees a lawsuit. I also expect that it will continue to run the latest version of my current applications. It will also continue to be able to run software the ARM Macs will not (e.g. anything requiring Windows & Bootcamp).
I also believe that a healthy used market will exist for the higher end Intel machines because of the need to run legacy software.
The graphical glitch doesn't bother me that much. I have only seen the flashing white lines definitely once since I setup. the machine and I only notice the corner glitch if I go looking for it. I am confident that the corner glitch is a MacOS bug and it has been reported with the 5700 too (and on this thread).