I think the problem is that many people assumed that because the iPad had the M1 it was going to become a Mac with macOS. I have been using the iPad as a "portable" computer for more than 7 years now, for more than a year.
I use Files to manage words, excel, PDFs, and organize them in my folders or to move them to a USB. I use it just like on Mac, I don't miss anything crazy (for what I do). But it's good that they have put the loading time of the files if they are heavy (not my case, because photos and others, go through iCloud in Photos).
Multitasking I use it quite a lot, and I think those improvements they have introduced help a lot in the day to day if you use that functionality a lot. For my taste, I want to see if it is no longer necessary to have the app in full screen to use the camera, which makes me despair sometimes.
I use the Apple Pencil to underline and annotate in the writings that are sent to me things that occur to me or important, what they have introduced, without being anything new, seems to me a great improvement, because sometimes something occurs to me or I find something interesting for some writing that I do and then I do not remember where I got it.
And I use a lot of Word, Pages, PDF Expert, Notes at work; and in my personal life, Procreate, Pixelmator Photo, and messaging apps and Safari.
Things like that on a Mac I can't do, so the iPad for many things is a very useful tool for me. In fact, I'm missing LexNet and the Sims 4 so I'm not dependent on any laptop.
And well, as a person who has a partner and family members away, FaceTime is a good part of my day to day life to stay in touch with them, so these are improvements that I also appreciate and find very interesting.
I don't use the maps on the iPad, obviously, but I do on the iPhone, so I also appreciate all these new features, which I think are pretty cool.
Yes, many of you wanted to have a Mac on an iPad... and surely they will come, but I don't understand why buy something based on speculation or rumors or assumptions that no one has made or confirmed. If Final Cut for iPad comes out, buy the iPad when it does, not because X says it's coming this year (who knows, maybe it will, maybe next year), because a big part of that frustration is that people thought that by bringing the M1 the iPad was going to become a Mac, and seeing that it hasn't, people are angry.
Of course, I think it's about time to get those apps (I strongly desire a full Word taken from MacOS), but for the moment it is what it is, beyond marketing and future promises.