Indeed, and incremental updates eventually add up. I know for me personally what has helped is that I upgrade my iPads every 3-4 years, in fact I kept my iPad Air 2 for even longer before jumping on to the 2020 iPad Pro so for me that was a nice upgrade because all the incremental upgrades added up over the years.
This is the way I think about it. I no longer have the urge to upgrade every year like I used to and allow the updates to build up for a better deal. I started with the original iPad, jumped to the iPad 2, laterally moved to the iPad mini then the mini 2, jumped up to the Air 2, then the 10.5 Pro and now the 12.9 M1 Pro. Each upgrade had a purpose though. With my original iPad, I only got 16GB and the single core CPU was already showing it’s age when iOS 5 dropped. iPad 2 set the design standard for the next 3 generations of iPad, had the dual core A5 and allowed me to correct my 16GB mistake. The mini was a great buy in a pre-iPhone Plus world, even if it had the same CPU as the iPad 2 (I got a super deal on it though). Mini 2 was a huge performance leap over the original mini. Air 2 allowed me to move back to the larger iPad after buying the iPhone 6 Plus and neglecting my iPad Mini. That iPad still is, IMO, the single biggest leap iPad ever made. 2x the RAM, 2x the CPU performance, Touch ID, laminated display and more. The 10.5 Pro brought the first screen size increase to the original iPad form factor, Touch ID 2, increased the RAM by 25% and the CPU performance by 90%, as well as a 120Hz display.
What does this new iPad offer over the last gen? 66% better CPU performance, 33-166% more RAM, Center Stage and upgraded front camera, miniLED, Thunderbolt. For me and others moving to the M1 from a home button iPad, we’re also getting Face ID for the first time (Face ID > Touch ID, except for face masks), USB-C versus Lightning, better speakers, and an all new design. For me, the performance jump from the A12Z to the M1 makes the extra money over buying a 2020 model on sale worth it. Even if WWDC doesn’t pan out, it will be supported for years longer to come. And if my previous trends continue, I’ll probably have this iPad until 2025-2026 when that 66% CPU jump
will matter.