Can't they run the M2 at lower frequency for the iPad Pro? (like they do with the A15 on iPhone 13 vs iPad mini 6)?
After all, I'm still wondering if there's any reason iPadOS needs a faster chip than the A12x.
For the iPad Pro it would be more like putting a low cap on the "turbo" mode than shifting the whole range down. Apple doesn't really push the underlying fab process past what it is efficient on away. So never really used the "single thread , top fuel drag racing" approach in the first place.
The iPad Pro's are suppose to go all mini-LED , hyper bright , ProMotion. ( if driving the display at 120Hz then not really slowing down).
As for iPadOS not needing much ... Apple has to compete with Windows 11 Tablet slab models with the iPad Pro since there is no touch screen for the Mac. So can drop it if want to sell fewer items.
If they haven't changed the CPU or GPU arch much and run them at the same speeds then it becomes "buy the new iPad Pro that runs just as fast as the old one". That isn't going to work so well. I suppose they can say "oh, new ProRes en/decoder" buy it but that is rather 'thin' as a value for an iPad Pro. Pretty good chance TSMC is charging more for N5P or N4P (or whatever additional delta Apple goes to for M2). So paying higher unit costs and delivering same performance? Doesn't sound like Apple.