I think that went away with the jump to 5k. I remember some intent to readd it when possible, but I haven’t seen it yet.
This matches my recollection that my 2008 iMac had this feature, and the one my wife got in 2012 did not.
2009 Tech Specs: https://support.apple.com/kb/sp696?locale=en_US
2010 Tech Specs: https://support.apple.com/kb/sp588?locale=en_US
https://youtu.be/6vBEiPaegjM?t=60
This is most certainly why video input does not exist. What's ridiculous is they clearly figured it out to support the LG 5K display which is the exact same panel and over TB3 which the iMac fully supports.
Just say "No" to the product. I'm not making the same mistake again.