This is everything you think is necessary. But by definition of being on a site like TidBITS, you’re not the typical user for this low-end product. I would venture to guess that there are millions of iMac users that never connect anything to their ports and are fine with the basic model.
Note that I do agree with you – for me the base models of just about anything Apple sells are insufficient. My rule is I never look at the “starting” or “base” price and always start with the medium price and assume even with that I’ll need to add some more options (memory, RAM, crucial accessory, etc.). So when Apple announces new iMacs for $1299 and $1499, I assume I’ll have to spend at least $1799 to get what I need. (In this case, more like $1899 as I’ll want 16GB of RAM and the extended keyboard, since it’s the only keyboard that comes with proper inverted-T cursor keys.)
That seems quite expensive for a low-end Mac. I love the colors and 24" is plenty (I’m used to smaller laptop screens), but I have decided to at least wait and see if there’s a pro-level iMac announced at WWDC in June. I’m sure it’ll be far more expensive – I’d guess at least $3K and I’m probably low – but at least it would be a decently-configured machine with more options and a longer life. I’d hate to get one of these and see better machine (for me) come out just a couple of months later.