I think you right on this. I saw that the 2020 iPP was back in stock last night, though I’ve yet to order. I’m perplexed at how little the 2020 iPPs are being discounted this year. Most places are discounting $100 on the 12.9” and Costco has discounted them $150 (on top of their regular $50 discount). Perhaps the $100 increase on the 2021’s are keeping the 2020’s discount pretty tame (a $150 discount looks like a $250 comparable to the similarly specced 2021).I wouldn’t count on the price going lower than this. The rebate is good until the end of the month, then the price goes back up. If you want one, I would suggest snagging one now while they’re available.
Perhaps there will be deeper discounts for Memorial Day sales, but I’m not counting on it other than an odd flash sale here or there. I think Costco will be able to sell their stock without further discounting.