The iMac Pro is now in the place where the old trashcan Mac Pro once stood, 6 years old and still selling for the same ridiculous prices.
The iMac Pro was released 2 years 11 months 12 days ago. Not quite as bad as the trashcan. It is getting close to the Mid-2015 15" MacBook Pro models though which sold a little over three years. (In that case the TouchBar models overlapped and the older Pro style was offered as an alternative.)
I would otherwise consider an iMac Pro, but True Tone is something that I really want in a new Mac.
There was a reason they got rid of the entry-level iMac Pro when this year's iMacs came out, they were just too similar. This was commented on above and there are no shortage of articles comparing the top iMac models to the original and current entry-level Pros.
As somebody who considered this choice recently, I'll let you know what went into my decision to go with the 2020 iMac over a discounted refurb/clearance Pro or entry-level Pro.
- Memory cost and flexibility. Winner: 5K. (Save $$$! Win.) Buying the equivalent memory yourself is just way more cost effective for the 5 mins it takes to install it. The Pro isn't designed to be upgraded and it is a significantly more complex process. But if you need a ton of memory, the Pro is the only one which goes with being able to go up to 256GB. Only adds CAD$6,500 to the base config.
- Benchmarks. Winner: Slight lead on the 5K. (Neutral, but likes the 5K was "fresher" with a few of the components.) While I think the Pro can still make sense for the most Pro of use cases, namely people who would truly benefit from the 14 or 18 core models. I suspect you don't have this use case if you're considering the 5K. The comparable models benchmark comparably to the Pro, or even better, in most measurements.
T2. Winner: 5K. Part of the reason the 5K benchmarks so well on certain tasks, like certain video encoding tasks, is because the T2 chip takes on some of these tasks. The Pro lacks this. Edit: since corrected by another user. It likely was the difference between 2019 iMac vs. 2020 iMac I was recalling instead (this did change year over year.) I was also considering clearance/refurb 2019 models for a hot minute.
- Thunderbolt. Winner: Pro (but it didn't matter that much to me.) I had to think a lot about if I'd miss out on the additional Thunderbolt controller after a few years of ownership. You can drive an extra 5K monitor because of that. Or just generally have more scalable IO, external GPU, and whatever else you need ports for. (When I evaluated this for myself, I decided it wasn't worth it.) Funny enough, when it comes to displays, only the 5K can drive an XDR. Not that I plan to get one.
- GPU. Winner: 5K. Calling a winner here is tricky depending on what model we're discussing. Comparing the base Pro to the 5700 XT 16GB, it benchmarked better for MY most common use cases. If I recall correctly the Radeon Pro Vega 56 was in a bit of lead for me when considering some more obscure computational use cases, but I'm tired and might be steering you wrong.
Oops, I basically just rewrote an article without the analysis and benchmarks. I write a lot when tired. I am probably not telling you something you don't know fro reading comparisons, other than I sprinkled in how that weighed for me. The one thing I didn't address: cooling.
Like you, I considered that for sustained load that the Pro
might be the smarter choice. "Were the latest i7 and i9 just pushing the thermal boundaries too far!?" And a quiet machine is always nice too. Coming from a MacBook I know I can live with occasional fan noise: it doesn't really bother me and I wear headphones a lot anyway. I certainly can hear the fan across the room after pushing the machine with a big Cities: Skylines map but right now it is spinning at only 1300 RPM and I have to lean into it to really hear it. (I first turned off my air purifier which was only passively running and still making far more white noise.)
In the end there were just too many winning attributes on the 5K side to go with the Pro. Plus with memory factored in, it cost me less. With some of the hardware also being a few years newer, I felt better about aging and the potential resale value in the future with a 2020 model year (although the true Pro-grade products tend to do well years later so it may be moot.)
Anyway, that's more than I ever intended to write. Hope it helps you internet stranger!