For me personally, I would like Apple to make a bigger iPad. Samsungs S9 Ultra has a 14” display. I think Apple should make a similar device, give that the Pro name.
if the iPad 14" was going to 'share' component panels with the MBP 14" maybe. But the rumors are that Apple is looking to use an OLED technology that is more expensive than the OLED that Samsung uses in their 14" Ultra tablets.
While I do expect Apple to crank the price of the 13" dual layer OLED iPad Pro higher , Apple also likely knows the higher the price goes the fewer they will sell. They do need volume over time to bring the prices down so they can distribute it to other major parts of the product line up. Even more so if Apple is also cranking up the camera component bill-of-materials costs for this new iPad Pro also. ( Additionally, I suspect Apple is going to be pushing this new iPad Pro as an "all in one" shoot, edit, post-process video shooting tool.... so better cameras would cover more "shoot" requirements. )
For a first version, probably not. By the time the MBP 14" gets '2nd generation' dual layer panel would be a better chance of them merging. The larger the iPad screen size the more problems it gets into if no other product anywhere is using the tech.
The 12” iPad Pro is then dropped to Air status and the Air then becomes the cheapest iPad.
To get to "Air" status , they would need to substantively drop the price also. The current Air has a M1, the Pro has a M2 . Costs is major contributing factor there. Look at the rumors for the SE4 ... Take the iPhone 14 and scale back the camera package bill of materials to push the costs lower (which 'allows' Apple to deliver a lower end user cost).
I think Apple is doing what they did before Steve Jobs came back, making to many versions of one product. Next year they will be releasing a new product in a category that’s new to them, the Vision Pro.
This really even close to that situation. Apple's 90's approach was trying to drift into selling "everything to everybody" in a effort to catch up to the dominating Windows PC market. There was some mania that Apple had to get a market share that Dell/Compaq/IBM had ( ~20% ) to survive at scale with the exploding PC growth market.
iPad is not even close to having to play "catch up" with any other players in the tablet space. Samsung has 'wet dreams' about selling as much S9 Ultra+ as Apple sells iPad Pros. Most of Apple's iPad line up is more defensive of share they already
have and expansion of the overall market, rather than some position of weakness.
iPad sales went close for flat for a couple of years and have got back on a growth path again. That is in part because Apple is trying to fill an increasingly wider variety of needs/requirements rather than just sell a single "Model T" to the same group of people.
The other hugely mismatch analogy is the inertia that 100's of millions of iPhone users have. The skills to operate the iPad. So there is natural user 'flow' from iPhone to iPad . The 90's vintage Mac has no 'partner'/synergy product like that at all. The "throw everything at the wall in hopes it sticks' was an attempt to get folks to move off Windows ( or in a few uses cases off Unix workstations). None of those really successfully increased sales to hit break even.
There is zero indication that expanding the iPad line up is coming at a cost of profitability. In fact probably pushing things up since higher selling iPads are consuming 'old' SoCs out of the iPhone and Mac product lines. So Apple can recoupe even
higher return on investment on the expensive SoC package development costs. (***)
The 90's problem was not too many models. It was too many models that didn't make money. Getting into a 'race to the bottom' on commodity PC parts component costs didn't really help. The iPad isn't chasing the Amazon Fire and super discount Android tablets with the additional models. Or the lowest budget possible Chromebooks.
Apple goes as low as selling their years old chassis and SoC will take them and they stop from going any lower. (same thing they do on the iPhone side for many years that Jobs was around too. )
Jobs cut the shotgun approach to Mac products to cut costs to Apple. Apple couldn't afford to do that. It was driving them broke continuing to 'fight the PC wars' . The PC war was basically over. Apple just needed to carve out a more selective products where a smaller set of set all made money ( no 'loss leaders' just to grab share. No ' match the checkbox features' of everything on the Windows PC side. ) ]
Apple isn't broke. the iPad is not loosing money at all. Not even close. Apple took the larger A__X SoC development costs off just the iPad and distributed them over millions more Macs at much higher average selling prices. The iPad lie up doesn't have its own unique SoC anymore. It is 'hand me downs' from either side of the larger product line up now.
(***) P.S. Apple did lost of things backwards to drive wider acceptance and production of PowerPC support chips and main packages across more systems. The efforts to launch a 'clone' market were badly executed. Apple kept using their on I/O chips and firmware as a dongle to limit adoption. This was a another major reason Apple had to retreat to fewer products using a relatively more limited PPC line up.
In the current set up of development and "hand me downs", the strategy hiccups are at the highest end of the Mac desktop line up. Not the iPad.