12.9" M2 iPad Pro, 256GB Storage, 8 GB RAM, Magic Keyboard, $1,548
15" M2 Macbook Air, 256GB Storage, 8 GB RAM, $1,299
I understand the iPad Pro has a better screen, speakers and camera, but still, the value proposition is extremely strange here
A more apples to cucumbers comparison would be;
12.9" M2 iPad Pro, 256gb Storage, 8gb ram (no Magic Keyboard), $1,199
13.6" M2 MacBook Air, 256gb storage, 8bg ram, $1,099
Now at least the screen size is more comparable and the iPad doesn't need the overpriced magic keyboard it has a virtual on screen one built in the software.
Now like others have said getting to an apples to oranges comparison would be;
10.9" M1 iPad Air, 256gb Storage, 8gb ram (no Magic Keyboard), Apple Pencil, $869
13.3" M1 MacBook Air, 256gb storage, 8bg ram, $999
The beauty of all of these products is that we have so many options to find the one that fits us the best. And if value is you top priority then a Mac mini with third party peripherals is the best option. If the largest portable screen size is your priority then the 15 MBA. See where this goes, its not a one that is best or the one that has the best perceived "value", its what fits what you need.
and really the best value that gets you the best of all worlds is;
13.3" M1 MacBook Air, 256gb storage, 8bg ram, $799 from microcenter
and
8.3" iPad mini, 64gb Storage, 4gb ram $349 from apple with the $150 gift card deal.