I don’t understand the confusion over the pricing. The iPad used to start at $499 for 16gb, and an extra $100 for 64gb. This new model starts at $449 for 64gb, full screen with uniform bezel, TouchID power button, higher RAM, better processor, better screen — if these things don’t appeal to you, buy the 9th generation that is still available. The Pencil compatibility doesn’t bother me because I have a 12.9 M1, so the 10.9 iPad will just be used for reading and non-Pencil use cases.
It was actually $200 more for 64GB.
$499 16GB
$599 32GB
$699 64GB
That said, iPad sales were falling fast and didn't really stabilize until Apple released the $329 iPad.