For Apple, Yes. Look at the trend. Not to mention mini's profit margin is low as well.
I'll put it to you this way: it probably doesn't look good if they reduce the iPad mini line to a single capacity of the most recent generation (which is running a CPU that is, at this point, two and a half years old) without producing an update.
So, no, I wouldn't bank on an iPad mini 5 or some other branded 7.9" iPad to be released anytime soon. Odds are it'll get phased out over the next year and a half.
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No, actually, there's much more evidence to suggest that there WON'T be an iPad mini 5. You don't take a lineup that consisted of a previous generation model at 32GB and a current model at 32GB and 128GB and shrink that down to just a single current generation model at 128GB WITHOUT announcing something newer on top of it. That's not the sign of a product line that's going anywhere other than down the tubes.
It will run this current version of iOS okay, probably start showing really noticable signs of sluggishness in iOS 11 and then either be dropped in iOS 12 or be on its last release at that point (in which case it'll start running like crap). That tends to be what happens with Apple's A series processors. Remember that the jump between A7 and A8 wasn't as huge as the jump from A8 to A9. Also that the A8 in the iPad mini, save for its 2GB of RAM, isn't much better than what you got in the iPhone 6 and 6 Plus which are both showing their signs of age in terms of performance in the latest iOS release as well.
It's not stellar, nor indicative of a product sub-category with any real future ahead of it. The mini-tablet market is all but abandoned at this point by all but the crappiest of cheapo tablets. The iPad mini 4 is closing the party down.
I dunno, looks like the 7.9" in 2016 outsold many other Apple devices, including every Mac and the 12.9" iPad. I'm not saying we should expect frequent updates or that the mini is bringing in more $, but with significant volume/sales I don't think they're going to ignore it.