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The Air 2 is arguably better than the iPad that launched this month! It definitely still runs the latest OS, and is likely to be able to keep getting updates for a few more years at least.
 
Pretty close in performance with the new iPad. I noticed better battery life and less lagging but not a huge difference. I mostly upgraded to get 32gb over 16gb.
 
I have not seen the new iPad but the screen is supposed to be worse so Air 2 must still be the preferred version. It is after all the screen you use..

Mine is running fine with 10.3 and will probably serve me another 3-4 years since I only use it for video and websites.
 
For $200, still a decent buy. That said, highly recommend getting at least 32GB unless that someone will not be downloading anything. Apps nowadays are massive.
I agree. I still manage with 16GB on my iPad Air 2 and iPad mini 4 because I don't really play any games, I stream all my videos and music, and all of my photos are uploaded to Google Photos so I can regularly delete them from my devices, but even after all of that, my free storage is slowly dwindling.

Thank God 32GB is becoming standard, because that will be more than enough storage for me for years.
 
Owned both an Air 2 and a 2017 iPad "5" over the past couple weeks.

Air 2 has an older CPU and WiFi chip. Combined, the Air 2 felt noticeably slower in general web browsing than the 2017. It will only get worse.
 
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