I’m pretty sure that they are not doing the 27" iMac anymore so that if people want a bigger screen, and want to stick with Apple products, they have to shell out for the Studio Display. If they get the Studio Display then they have to get a Mac Mini or a MacBook instead of just the iMac.
I thought I would hate the Touch Bar when I bought the M1 MacBook Pro but I have ended up kinda liking it. I wouldn’t say I love it. I think function keys are better for certain tasks, but the Touch Bar has some utility for sure.
Since applications can include the Touch Bar they can move some functionality down there. Things like switch tabs in Safari, turning on and off hidden files in Finder, and of course scrubbing through audio/video. I especially like how IINA uses the Touch Bar pulling frames from the video file makes the scrubbing area into a colourful representation of the video. I wish the Touch Bar was used a bit more actually. I find it weird that, and maybe this can be changed in Settings, you can’t get granular control of volume or screen brightness with the Touch Bar. I think if you hold Option or Control, or both, you can get more fine tuned changes. I just think that should be the default for using the Touch Bar.