It may not be so much about "sensitivity" as "experience". Folks buying 2TB or 3TB Fusion Drives likely are doing so because they have large amounts of data that relatively immune to the access and transfer speeds of the media hosting it - items like photos, music and video.
128GB seems laughably small to those of us who have 512GB or larger SSDs (I have been 1TB for my last two iMacs), but if that is enough to hold the OS and the productivity applications those users predominately access, then they are getting the speed they need for the applications they interact with.
This is why while I support the concept of Fusion Drives, I continue to pillory Apple for reducing the size of the companion SSD on the 1TB model to 24GB (and then 32GB) from 128GB. That I see as a willful attempt to punish an end-user for their choice.
One small fix that Apple can do is to restore the SSD portion of the Fusion Drive to 128Gb, and the amount of SSD in a Fusion drive is important if the iMac is likely to be fitted with as much as 128Gb of RAM. In that case they should actually increase the SSD segment of the Fusion drive to 256Gb which should make performance much better.
But in any event, Apple should be looking at bumping the standard RAM and/or CPU to at least Coffee Lake Refresh 9th generation if there is no will to use the Comet Lake CPUs this time around.
I would like to see Apple drop the 256GB option from the iMac line-up and just offer 512GB as the base model because I think 256GB is too small (I can accept it on the Air and the Mac mini for their markets). But since they still offer 256GB as the base storage for the 2020 MacBook Air and 2020 Mac mini, I am not holding my hopes up - doubly so since the 24" iMac is supposed to be "cheaper" which scares me on a number of levels and not just storage.
Put it this way, Apple are now selling MacBook Pros with 16Gb of RAM as standard, starting with 16Gb RAM and 512Gb SSD, for $1799.
For $1499 you can have an 8Gb RAM, 512Gb SSD storage MacBook Pro 15w product.
You have to go all the way down to the base $1299 MacBook Pro 15w SKU to get just 256Gb storage.
So while 512Gb SSD would be the very least amount of SSD that a stock iMac should be rocking, there is now significant argument that the 27" iMac should now come with 16Gb RAM as standard since that also starts at $1799.
I wonder how cool Alder Lake really well be, since they are rumored to be taking the Apple approach of having a mix of "low power" (low-heat) cores and "high power" (and likely high-heat) cores. I mean it should be better than Comet Lake and Rocket Lake, but then by the time they actually ship in a PC, Apple might already have "desktop class" ARM CPUs (at least "desktop class" for running macOS and macOS apps).
I wonder if that's the ultimate purpose of Pro Mode as well. This sounds like an admission that the base clock of standard 'high performance' cores is too hot for so called small enclosures. I'm not talking just about Macs but about the Small Form Factor PCs. If Intel have to actually turn off high performance cores in favour of more efficient (low power) cores I can't imagine Apple will be too pleased at the hoops Intel are jumping through in order to catch up to AMD.
Perhaps my solution - to abandon the S CPUs and go to the H CPUs in a smaller 'Air' enclosure is too far fetched for Apple.
No wonder Apple may be pulling the trigger on ARM soon.
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AMD has officially stated that RDNA2 will come out first for PCs and then for the PS4 and XBX.
It would be quite embarrassing to introduce new iMacs with more than one-year-old GPUS in September right when AMD is introducing new cards.
Problem is, hype aside, it looks like it's going to be priced high. If it's that good I would not be surprised.