There was that expectation by some that thought Apple might release the M4 Ultra machines first, then trickle down. It didn't play out but it makes sense to me. People who want a machine now would have to buy a higher end, higher profit margin machine. While the lowest profit margin machines would come in last.
I'm sure Apple's marketing knows what they're doing though (or maybe it actually does just take longer to have the M4 Ultra ready than the lower spec chips).
Releasing the M4 mini kind of throws a wrench in that logic though. Why buy a $1599 Mac Book Pro when I can just get a $599 Mac mini and save $1000?
Better reasoning would be that the higher end chips take too much fabrication capacity that is better served for getting “mass market” systems out the door and on shelves first. All base M4 systems have been released already, except for the Air, which will probably happen soon’ish.
Before the Studio is updated, I’ll bet we’ll finally see a “pro” iMac make a return with Pro and Max chips. Then the Studio released with Max and Ultra chips and the Mac Pro with Ultra and possibly a new Extreme variant (This could be the SoC they’re working on for their data centers/server farms?)