I'm not saying I'm right, but I just don't see the benefit in an annual cadence for every product in the line. Apple hasn't been much of one for releasing products just to say they did-- they want something to show for it. There's a lot of engineering work in releasing each of these products. Each with their own chips, housings, thermal systems, power systems, displays, firmware... They're still running an annual cadence on phones, but they're also selling phones in much higher volumes and in much less variety against much stiffer competition. It's just not a good use of resources to turn that many chips and machines each year.
Staggered 2 year releases as they've been doing so far seems far more sensible to me.
I don't think the only reason Apple didn't update is because of Intel, frankly. Aside from modest processor performance bumps, what do they have to add? Now that they're taking a solid performance lead over Intel, and no longer compete head to head with the Intel world, what would drive them to make 10 or 15% performance updates, rather than 25 or 30 percent updates every two years? Every year they still get to hold an event showing how much faster their new machines are as they put out the base, pro, max and desktop machines.
The M2 probably is taped out. The A16 probably is too. I don't see an issue with releasing the M series before the corresponding A series. It's not like the iPhone world is hanging on incremental CPU improvements- I don't think people buy their iPhones because of the massive performance each year. They're buying it because the massive performance in previous years permits better software this year. Each year's CPU boost is just investment in that future. People still don't know what to do with an M1 in an iPad, but software will have caught up by the time the M3 is in an iPad.
From a marketing perspective, it's actually probably more powerful to say that this new phone is based on the same processor they just announced for their latest laptops than to say that this new laptop is based on the same processor they use in their phones.
Maybe I'm wrong, but for me at least it seems reasonable to update the phones annually but the iPads and Macs every 2 years. The watch might be approaching a 2 year cadence too... It just seems like a better use of engineering and better fits the pace of innovation in these mature platforms.