Belated feedback if this hasn't been commented previously. A "ton of external..." devices daisy-chained to a single Thunderbolt 3 port is just a slight generalization.
First, as most are aware, iMac TB ports are limited to one controller for both TB ports. Depending on the external configurations, devices, etc. TB3 device linear progression ("daisy-chain") could and does result in throttling by placing heavy demands on the ONE iMac TB controller. Some have commented on bandwidth latency using less than the 6 maximum recommended daisy-chained external TB devices with large redundancy configurations and requirements (one professional videographer commented that using only two, multi-bay enclosures containing large 4K files, he experienced some sporadic but consistent latency).
Conversely, we can go over to the base Mac Pro (2019) and, with a far-greater price than the 27-inch iMacs, also only have one controller for the USB ports (referring to the back-plane of the Mac Pro only).
Just a word of caution for those of us still considering the Intel-base Apple line-up (listen up Cook) for their compatibility with not-so-legacy applications. If looking at these "little" iMacs consider your external device needs, configurations, etc. and possibly consuming large bandwidth for these single controller TB ports.