I don't like the iPad onscreen keyboard. It is fine for typing URLs or short messages, but I tried to edit a few 2-3 page Word docs on my daughter's M1 iPad Air to see how it feels and I quickly went to grab my MBP after a few minutes. The virtual keyboard is just not conducive to how I want to work with real documents and longer typing sessions. Plus, the onscreen keyboard obscures the document I'm viewing. There are just some things that are easier (and faster) with a physical keyboard. I don't need a mouse nor touchpad, but a physical keyboard is mandatory if I am to get an iPad.
My intention for an iPad and Smart Keyboard Folio is to serve as a lighter alternative to my MBP 14, otherwise I don't really want any iPad at all since my Fold5 serves my tablet needs. Hence why I traded-in my seldom-used M1 12.9 while values are still decent -- it was too heavy with a keyboard or as a tablet. Many are happy to use an iPad purely as a tablet, and my daughter is among them, but I just never liked/needed an iPad by itself and want greater utility out of it.
The M1 12.9 IPP was my first iPad after decades of every other Apple device. Unfortunately, I had no prior experience with iPadOS and learned of its limitations the hard way. Now I have proper expectations and want something light and portable (that I can type on) for times when I don't need my MBP. If it doesn't work out, no biggie, I still love my MBP 14.