Consider that the display on the 27" iMac has 3.68 million pixels. Even if you are producing LCD panels with a defect rate of 1 in 10 million, that still means that one panel in 3 will have a defect in it. Go even further and consider each subpixel and you have a display with 10 million pixels, thus to get even a 1 in 10 throwaway rate for LCD panels you need to produce LCD panels with a defect rate of 1 in 100 million (that's 99.999999%). For each order of magnitude the defect rate goes down, the cost to produce probably rises by an order of magnitude as well.
Yes the process has improved with time and the manufacturing costs are decreasing thus you are able to have a higher tolerance, but even $1500 or $2000, is not enough to make a guaranteed zero pixel defect practical or profitable for a display this size. $2000 may seem like a lot of money for an average person, but the fact of the matter is that it is pocket change compared to the production tolerance required to guarantee a flawless display. Aircraft parts are typically required to have a defect rate of one in one billion flight hours which is why a bolt that goes on an airplane costs fifty dollars when the same bolt in the hardware store costs ten cents. Or why they use 286 processors in the flight computer and it costs hundreds of thousands of dollars to buy.
Ruahrc