When I contacted Apple Support, I asked if this specific hinge malfunction was commonly reported.
The tech helping me said that he "had been doing [Apple Support work] for a long time," and that I was the second person to bring this issue to his attention.
But after a quick Google Search for 'iMac Hinge Broken' and clicking on the very first search result, I suspect that not to be the case....
ie.) The 49,491 views ... and the precise make and model listed.
I, too, am no longer covered by the warranty by just 3 months. So reluctantly I contacted my nearest service provider to inquire about the cost for a repair. The provider told me that it would be a "lengthy procedure" due to the internal location of the hinge, to which I can only imagine will lead to a 'lengthy bill.'
I am more than satisfied with everything else my iMac provides. (That is, after I have tediously propped up the magnificent screen with weighty objects like books so I can comfortably view it.)
Going to be even more disappointed if this is a costly repair. I never expected Apple products to unexpectedly *SNAP* just months after the warranty ends. (Any theorists betting on Planned Obsolescence? For example, intentionally producing a product with a limited-lifespan design such as opting for cheaper soft metals in screws and bolted parts. Or for this case, using inexpensive plastic instead of higher-quality metal in crucial stress-bearing components. This intentionally increases the speed at which the product will break down, become inoperable through normal usage, rendering it prone for breakage and ultimately requiring replacement.)
After looking into the matter more throughly and seeing the amount of people who are dealing with the same specific product malfunction, I'm convinced that this is an unintentionally overlooked design flaw. But regardless of intent, this flaw critically effects the usability of the product and is significant enough to the product's quality that Apple should offer (at the very least) to pay for a portion of it's repair.