I would love to see a return to the iMac G4 format, so I mocked up one possible option by cutting together pieces of other current/upcoming Macs. I am not set on this look, just the format, but wanted to highlight some possibilities.
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Ergonomics are important for computers. Height adjustment is a major part of this as the user's eyes should be level with the top of the screen. The fixed height of the current iMac is bad for this. The screen is too high for me, so it cannot be solved with a riser. I have gone with a new Pro monitor style arm, but would also like the iMac G4 look for this. The important thing is adjustability.
Cooling is not restricted by having the screen in the way, which is a hot component itself. I went with the new Mac Pro style ventilation to highlight the potential for much better heat management.
Speakers could be in the base, meaning no need for a chin. And having all the computer components in the base means there is not the need for such a heavy duty stand. It also means the screen can be thin and elegant. The image has the same screen thickness as a MacBook Pro lid.
Small bezels should be easy. I tried the rounded corners, although I am not sold on the idea, but thought it worth showing them.
Hopefully the side of the base can open up to allow access to RAM and NVMe SSD slots (4 RAM, 2 SSD please).
The image shows 30" 16:10 screen. The iMac has gone through most Apple display sizes except the biggest. The 30" had the same horizontal resolution as the 27", but extra vertical pixels. As many iMac users are limited on desk footprint, vertical is the least problematic dimension for expanding in, and is great for scrolling content such as coding, word processing, and many websites. The Retina resolution would be 5120x3200. This change is not dependant on the G4 format, it is something I would like to see in the iMac whatever, but a taller screen makes height adjustment for ergonomics even more important.
I went with a rounded cube for the base, but it could just as easily be conical (sloping sides prevent anyone covering the hot base with papers, or other fire risk). I also considered something like a closed MacBook, a large GPU and built in PSU replacing the battery space. It would all be nice and thin, but would require a much longer arm (fore-aft movement becomes on issue due to bigger arc, unless there is an extra joint to truly deserve the Anglepoise nickname the G4 had), and has the problem of being a repository for desk detritus and the resulting fire risk on a hot computer.
Oh no. What about VESA mount