I've been using the '18 iPP for a few years and I recently purchased and M1 to try out. With Stage Manager disabled, I'm having a hard time really seeing much difference between the two in my normal day to day usage. For me, the iPP is more of a "light" laptop content consumption replacement as I always use it with a MK but it's mainly just browsing, messaging, social media, PiP of some shows, some light photo and video editing with built-in apps. I love Slide Over as I normally have 4-5 apps in Slide Over that I'll access quickly and then move out of way.
With the exception of the slight screen differences (M1 is brighter and appears crisper), with SM disabled I really can't tell much of a difference, even with the RAM difference (I don't really have issues with reloads on the '18). The A12X is still a powerful chip.
With SM enabled, I do like the flexibility of having more apps but I lose the space for Safari browsing and some pages actually render differently as you resize. I don't use an external monitor so I'm deciding if long term I'll use SM enough to keep it. Plus I have a feeling iPadOS17 will continue the M1 specific features of iPadOS so keeping the M1 is a better long term option. But I could stay on my '18 iPP with no issues.
With the exception of the slight screen differences (M1 is brighter and appears crisper), with SM disabled I really can't tell much of a difference, even with the RAM difference (I don't really have issues with reloads on the '18). The A12X is still a powerful chip.
With SM enabled, I do like the flexibility of having more apps but I lose the space for Safari browsing and some pages actually render differently as you resize. I don't use an external monitor so I'm deciding if long term I'll use SM enough to keep it. Plus I have a feeling iPadOS17 will continue the M1 specific features of iPadOS so keeping the M1 is a better long term option. But I could stay on my '18 iPP with no issues.