BlackMagic eGPU not just for HDMI and Thunderbolt 3 displays, but also for any USB-C monit...
The Blackmagic eGPU isn't just the first one to accelerate the Thunderbolt 3 LG Ultrafine 5K, but will boost any two displays that can connect to the unit with USB-C or HDMI.

As with the rest of the external GPU units AppleInsider has examined, the BlackMagic eGPU connects through Thunderbolt 3, and is designed to connect to an external display for maximum performance boost. However, the Blackmagic one is the first that will accelerate a Thunderbolt 3 display without relying on hacks or other hardware workarounds
However, AppleInsider can confirm that a USB-C LG UltraFine 4K display plugged in downstream of the eGPU on the pass-through Thunderbolt 3 port is accelerated. The functionality is not just limited to USB-C native monitors, as a monitor connected to the port with a USB-C to DisplayPort cable is also accelerated.

Additionally, the Blackmagic eGPU will support a pair of monitors, with one plugged in to the HDMI 2.0 port on the device, and the second through the Thunderbolt 3 port either with a native Thunderbolt connection, or with a USB-C to HDMI or DisplayPort cable.
At the core of the improvement is the Titan Ridge Thunderbolt 3 chipset. While there are many changes between the previous chipset, Alpine Ridge, and the newer version, the Titan Ridge chipset allows a DisplayPort signal to be injected into the Thunderbolt 3 stream at any point in the chain, rather than just by the computer or an eGPU only able to send video to a monitor connected directly to the card.
The Titan Ridge chipset also explicitly allows a 8K display to run at 30Hz without compression, or at 60Hz when Display Stream Compression is used. However, the bandwidth is still limited to 40Gbit/sec, so two 5K monitors are still not able to be connected in a daisy-chain configuration.
One of the new Titan Ridge controller chips available from Intel is intended for peripherals, and would allow use cases like a Thunderbolt 3 RAID to connect to a USB 3.1 type C host at the slower speed allowed by USB 3.1. With Alpine Ridge, the Thunderbolt 3 RAID wouldn't connect to a USB 3.1 type C connector like those found on the MacBook at all.
Existing Alpine Ridge peripherals are compatible with Titan Ridge devices, and vice versa. So, even an Alpine Ridge 2016 or 2017 MacBook Pro can connect to the Titan Ridge-equipped Blackmagic eGPU and use a display connected with one of the USB-C "alternate modes."
Apple's 2018 MacBook Pro line includes the Intel JHL7540 Titan Ridge controller.
The Blackmagic eGPU is available in select Apple stores now for $699, and is available from Apple.com as well.

As with the rest of the external GPU units AppleInsider has examined, the BlackMagic eGPU connects through Thunderbolt 3, and is designed to connect to an external display for maximum performance boost. However, the Blackmagic one is the first that will accelerate a Thunderbolt 3 display without relying on hacks or other hardware workarounds
However, AppleInsider can confirm that a USB-C LG UltraFine 4K display plugged in downstream of the eGPU on the pass-through Thunderbolt 3 port is accelerated. The functionality is not just limited to USB-C native monitors, as a monitor connected to the port with a USB-C to DisplayPort cable is also accelerated.

Additionally, the Blackmagic eGPU will support a pair of monitors, with one plugged in to the HDMI 2.0 port on the device, and the second through the Thunderbolt 3 port either with a native Thunderbolt connection, or with a USB-C to HDMI or DisplayPort cable.
At the core of the improvement is the Titan Ridge Thunderbolt 3 chipset. While there are many changes between the previous chipset, Alpine Ridge, and the newer version, the Titan Ridge chipset allows a DisplayPort signal to be injected into the Thunderbolt 3 stream at any point in the chain, rather than just by the computer or an eGPU only able to send video to a monitor connected directly to the card.
The Titan Ridge chipset also explicitly allows a 8K display to run at 30Hz without compression, or at 60Hz when Display Stream Compression is used. However, the bandwidth is still limited to 40Gbit/sec, so two 5K monitors are still not able to be connected in a daisy-chain configuration.
One of the new Titan Ridge controller chips available from Intel is intended for peripherals, and would allow use cases like a Thunderbolt 3 RAID to connect to a USB 3.1 type C host at the slower speed allowed by USB 3.1. With Alpine Ridge, the Thunderbolt 3 RAID wouldn't connect to a USB 3.1 type C connector like those found on the MacBook at all.
Existing Alpine Ridge peripherals are compatible with Titan Ridge devices, and vice versa. So, even an Alpine Ridge 2016 or 2017 MacBook Pro can connect to the Titan Ridge-equipped Blackmagic eGPU and use a display connected with one of the USB-C "alternate modes."
Apple's 2018 MacBook Pro line includes the Intel JHL7540 Titan Ridge controller.
The Blackmagic eGPU is available in select Apple stores now for $699, and is available from Apple.com as well.
Comments
The round trip with calculations isn't really an issue.
In another forum where this (vs other eGPUs) was being discussed, someone said you can get pretty quiet on one like the Mantiz too if you replace the fan and pick a GPU card with 3 fans, etc. But, I'm guessing that is still going to be way more noisy than Blackmagic... especially in light of your feedback here.
Quiet is really important to me in what I pick. My dilemma now is whether to go with something like the 13" MBP and this eGPU, or a 2013 MP, or maybe wait if I can and see if I could do an updated Mini + this eGPU (supposing they actually update the Mini to be similar to the 2013 MBP). The latter would be my preference if it isn't too noisy, but who knows if they will do such an update. The 2013 MP is powerful and quiet, but I'm just concerned about how out of date it is.
I plugged in the power cable, the short thunderbolt 3 cable from my 13” 2016 MBP (left port) to the eGPU, and the display’s thunderbolt 3 cable from the eGPU to the LG UltraFine 5K. Everything just worked. Video card icon displayed on the monitor. About this Mac showed the Radeon Pro 580 with 8GB RAM for the video card driving the 5K display. Everything you’d expect.
I turned the graphics on World of Warcraft from all the way down at 5K (which was still a bit laggy; the 2016 13” MBP just struggles driving that many pixels) to halfway up (there’s a 5 setting out10 that sets a bunch of lighting, details and other levels to “good” as well as some anti-aliasing) and it was buttery smooth at 5K!
Also did some testing with iMovie editing and playing a bunch of 4K 60 FPS video and there was a huge difference in how smooth all of that video played back. Photos was the same story, scanning through a massive photo library. Also OS animations such as switching desktops, etc. all showed marked improvement.
Super happy with the purchase! I highly recommend it especially if you have a 13” 2016 MacBook Pro. It’ll give that system so much more oomph while docked at a desk.
defaults write -app "Rise of the Tomb Raider" GPUSelectionPolicy -string preferRemovable
Gives me exactly the setup I want, a normal laptop using its normal screen, just with a graphics accelerator plugged in.