Or perhaps the Mac Studio is the new iMac Pro. Makes sense for a pro Mac not to be limited by tight thermals or limited ports due to excessive thinness.
Perhaps, in an Apple Silicon world this is the way the new iMac plays out. The 24" is the iMac and it’s geared towards consumers, home users, and edu — just like the original iMac. OTOH people looking for pro gear (and not willing to shell out $12k for the MP/XDR combo, IOW the “pro” majority) get a Mac Studio and a Studio Display.