But would the average consumer care enough for 10bit to disregard 5k resolution?

Looking at the uproar over at Reddit, it seems like people care far more about refresh rate than resolution or color depth. This also seems to be borne out by the current monitor market - most monitors seem to be 1440p high-refresh rate monitors.

Gamers. Reddit is not a good measure for what workers who use computers want. Or need.

The vast majority of people with 120hz+ displays do not play video games. They're standard in mid-range TVs. They're standard in mid to high-end phones. They're standard in high end tablets. Gamers are a minority of the 120hz panel market. They're certainly also a minority of the people discussing this panel on reddit, 5k is too high resolution for gaming and 120hz is too slow, people weren't wanting a 5k120hz panel to play games, they wanted it for productivity and at most to play games on the side.

Low refresh rate is bad for pros for the same reason it's bad for gamers, it makes it harder to quickly and accurately perceive things in motion and it slows down your ability to accurately execute inputs. I feel the effects of the reality distortion field has caused everybody to believe that quite simply no real professionals could dislike working on 60hz LCDs and the disappointment is all caused by all those silly gamers.