Does this procedure apply when transferring all data from an iMac to new iMac?

No, it applies only to the devices in the title: Use iCloud to transfer data from your previous iOS device to your new iPhone, iPad, or iPod touch - Apple Support

See the following to migrate to a new Mac: Move your content to a new Mac - Apple Support

Also, please read:

When you buy a new Mac the easiest, quickest and most reliable method is to simply connect the old Mac's Time Machine External Hard Disk to the new Mac using a USB cable before you turn on the new Mac. When you start the new Mac for the first time it will startup Setup Assistant (SA), SA will get to a point where it asks if you are migrating from another computer, select Yes  and follow the on-screen prompts and it's done! It is THAT simple.

If you have already done SA on the new computer then simply connect the Time Machine External Hard Disk using a USB cable and launch Migration Assistant (MA) which is located in Applications - Utilities - MA. Then follow the on-screen prompts. 

The ONLY difference between MA and SA is MA will create a new user account that you need to log into.

Both SA and MA migrate applications (not 32 bit apps) , data files, settings, it does not migrate Mac OS itself. Some professional apps such as Adobe and Microsoft apps may require re-installing their apps as they will not allow them to be migrated. As long as you kept the security keys for installing their apps, it is not a big deal.