In 2019, rumors were floating around that Apple might be working on a “less expensive” hi-resolution display with a built-in GPU. However, as time passed, people forgot about it. While Apple did release Pro Display XDR in 2019, it lacked a GPU.
This time around, Apple might be finally up to something as there are yet again rumors suggesting Apple’s working on a new display under the codename J327, which will be powered by Apple’s last-gen A13 Bionic SoC found in the iPhone SE 2020 and the iPhone 11 series.
According to 9to5Mac, the display also features a Neural Engine to accelerate ML (Machine Learning) tasks. Also, Apple has not given up on external displays. If the giant does manage to include a built-in GPU, this can help creators get more powerful graphics performance by combining the Mac and External Display GPUs.
Also, the fact that it could be powered by a generation old SoC, this factor might significantly contribute to the low price (If at all Apple decides to price it lower, that is)
Bear in mind that these are just rumors which should be taken with a grain of salt. The launch date of the device is also unknown as of now.