I agree for long-term decisions, but given Apple's lead times I'd be shocked if a larger iMac (Pro) wasn't in active development if they thought there was at least a chance of delivery in 2022 or 2023. I really don't know why they wouldn't offer a least a prosumer version because all know Apple loves to reuse parts and they have the components readily available.I find myself in agreement with Renee's opinion: if Mac Studio sells well (and most sell with an Apple Studio Display), that would indicate to Apple there was no compelling need for an iMac Pro. If it does not (or say, sells primarily as the Ultra model and in lower volumes), then this would indicate the market still wants a Pro/Max iMac Pro.
The desktop market is currently missing something between the M1 and M1 Max. I think we could see the M2 Pro in a Mac mini and maybe even the 24" iMac (I don't see why not). Then the larger iMac could resume it's old place as the higher-tier iMac starting with the M1 Pro and configurable to the M1 Max. Then it's basically a Mac Studio sans the Ultra option.
I do wonder wha the pricing would be. If truly a replacement for the iMac Pro with ProMotion and MiniLED then I think it starts at $2,999 at a minimum, but likely $3,499 or up. I feel like Apple would also offer a more consumer-focused version. I guess I could see $1,999 for an M1 Pro and the comparison to the Mac Studio would be that you get a lesser chip but beautiful screen. I feel like $2,299+ is more likely, but if it's consumer focus I really think Apple needs a $1,999 or lower tier. Then you have the fact that the monitor-only Studio Display is $1,699.
I can't really guess Apple's pricing structure at the moment.