It’s in the (MagSafe!) power brick, which is super weird.
I think it is a pretty neat idea. It is not a cable I want to add/remove often, so not having it coming up to the table, at least sounds nice on paper.
That could be the case. The Ethernet-Port is moved to the Powerbrick.
They moved the ethernet port into the power adapter.
apparently it's in the charging brick
No Ethernet port on a desktop is just insane. I can see the sense in saying "your dock is Thunderbolt and Ethernet goes on the dock" for laptops, but on a dekstop?
I don't think it's a bad choice. That way you only need one cord dangling from the device; the ethernet cord can be attached under the desk. It's actually a thoughtful feature; most people are annoyed by the usual mess of wires. This helps with that.
They could have added more ports, then.
It's on the power adapter and shares the same cord as the power cable so only 1 cable is needed to the iMac.