The 27" panels from the now discontinued iMac in that size meet the A13 Bionic at end of life, and the same front-facing camera they put on everything else. The Studio Display is a bit like a restaurant serving chicken soup a few days after featuring roast chickens.
I'm surprised they didn't ship it with FaceID immediately, but I presume they have to iron out the kinks since it's never been used on the Mac before, and everything is there for them to turn it on in an update.
I can get a lot more display for $1500 (MSI Prestige 5k2k), and I'm left with a hunch that Apple's third modern display is going to be the first one I find at all compelling.
What Apple has done here is provide an obvious purchase for someone who would have gotten a 'big' iMac or iMac pro: the Mini for the former, the Studio for the latter, and the Studio Monitor. If you want the monitor to have great color range and accuracy, and good speakers, and a better webcam than a laptop which won't look up your nostrils, it strikes me as a reasonable price, I happen to just want my monitor to be a monitor.