I think the main issue is that to type this you probably have a keyboard folio and you obviously have a pencil so add all that and it’s much more money than a MacBook Air but a lot less functionality. Apple has essentially made owning an iPad as your sole computing device more expensive than an actual laptop running a full operating system.
Not really a new thing. My iPad 2 64GB Wi-Fi was $799 while my Windows laptop (i3-2330M, 8GB RAM, 1TB HDD) was $599.
iOS 4/5 was far less functional compared to iPadOS and was even more sandboxed then compared to now. The Windows laptop was also much, much, much faster than the iPad specially for web browsing. The form factor and battery life of the iPad totally beats the laptop for comic reading, though.
Mind, I did use a physical keyboard + trackball for this post (multi-device Logitech K780 + MX Ergo) since I’m on the desktop. However, I’m more than fine typing this with onscreen keyboard had I been on the couch or bed.