It doesn't help you that the 1TB drive in your new iMac is only a 5400 RPM laptop standard hard drive.
Access is significantly slower than the access times from a 7200 RPM drive, despite whatever benchmark specs will get thrown at you.
7200 RPM drives ARE significantly faster than their 5400 RPM counterparts.
Plus,
You may, indeed, still need more RAM.
The baseline 8 Gbs of installed RAM is mostly for the operating system to give optimal performance, if you use any type of CPU, GPU and/or RAM intense applications, 8 GBs of RAM may still not be enough.
An SSD or Fusion Drive only speeds up access times from the drive giving the appearance of a faster Mac.
For any type of resource intensive applications, CPU, GPU AND RAM are still factors to consider.
So, the iMac you are using, depending on the type of applications you use, may still need additional RAM.