Save for the motherboard (and the system, the case, and the thermal design), pretty much all of the other components are commodities. Presuming that the motherboard is the most complex part of the computer and that boards can be designed and fabricated into a "proof of design" sample in six or eight weeks (my experience), I don't see the reason for 18 months for introduction to the market unless they have done nothing so far and don't intend to start for another six months. If, on the other hand, they intend to re-invent the concept of a pro machine, I should cut them some slack, assuming that their need for re-invention matches the prosumers need for updated equipment. The angst of the many recent comments leaves that philosophy in some doubt. At least we can agree that Apple took the low compliance path towards customer satisfaction on this update.
I am not an engineer, but I am thinking that the intended Mac Pro update is not so simple a designing and fabricating a new motherboard, otherwise it would have been done. From what I've read, there have been two motherboard designs for the current run of Mac Pros from the 1,1 model, which has resulted in the 1,1 and 2,1 no longer being supported in OS updates, so the only logical conclusion is that the motherboard design is not so simple when you add in the OS.
I also have read that there was a change in how the processors accessed RAM from 1,1 to the most recent version, but that there is still a problem related to how Thunderbolt is connected to the system which makes the current generation motherboard incapable of being updated to take advantage of the newest chip designs.
Granted these are consumer products and not aerospace systems controls, but given the production volume and Apple's reputation for working out of the box, I don't think that you can compare your prior experience with design for consumer products. I agree that it does not appear that the Mac Pro is a priority for Apple from an engineering standpoint, but it does seem consistent with Apple's habit in the Pro area to create machines that can work a long time.
Like you, I use my Mac Pro, a 3,1, for music applications, and except for the loss of support for some legacy software in the latest OS, my Mac Pro has basically been running for the last four years non-stop with only software issues to slow it down. Now compare that to your iMac experience, which is designed solely for consumer use, and you might understand why I don't have any issue with Apple working to get it right with the next Mac Pro update. While I am disappointed in how long it's taking, I'd rather they get the redesign right, so my next desk station has a similar useful life.