So it would just be the same display as the LG 5K UltraFine? But in a nicer enclosure?
Yes.
If it came in a nano option that would be a nice option to have.
I would expect a nano-texture glass option on both the 27" iMac and the standalone 27" display.
My first reaction to this was negative because I want miniLED and ProMotion for giggles, but now that I think about it, if Apple releases a more powerful Mac mini and display, that could be a powerful little desktop and then you have display you can keep/repurpose. I want to go to law school soon so I'd need a separate laptop and this could potentially serve both use cases, but I've never had a Mac mini. Hmmm.
There has been so much conflicting information over the past 12 months or so it has been hard to form a cohesive narrative. I have had to change my view on it multiple times (including once again this morning) because of it.
Tuesday and WWDC should provide us the final clarity we need as to what will happen.
If Apple is planning a consumer/prosumer 27" iMac then I think we should see that Tuesday because there should not be any blocking supply issues at this point - we have M1 Pro and M1 Max, we have the 27" edge-lit 5K display and making a larger version of the 24" iMac case should be easy enough.
The same logic applies to a 27" 5K Thunderbolt display - we have the panel and it can use a similar (or even the same) case as the 27" iMac.
And if Apple does that, then the next logical step is for Apple to announce an iMac Pro at WWDC (even if it does not ship until 2023) and position it as a high-end "professional" model with a mid-five figure base price and only offering the most-powerful M1 SoCs (M1 Max Duo and M1 Max Quadro) coupled with large RAM capacities (32/64/128/256) and paired SSDs in the following capacities: 1TB / 2TB / 4TB / 8TB / 16TB. I would expect it to have the 32" miniLED panel that LG is working on as I expect the current 32" 6K Pro Display XDR to be replaced with the ~40 inch 7K panel with integrated A13 recently rumored.