I think the real question is what one thinks is "earth shattering", and what someone else thinks is "meh".
Everyone's use case can be very different. What I find "earth shattering" may mean nothing to someone who doesn't use the iPad the same way I do. Doesn't make it any less "earth shattering", just means that WWDC may not have delivered what someone else needed, or someone was expecting more from iPad & should have gone with a Macbook instead.
I use apps that take advantage of more ram, to allow for more layers in my work. Right now 16GB is overkill, but that's not to say that will be the same case in the future. There's already a new version of Procreate on the way, and if it's capable of taking advantage of the extra RAM, the iPad has already been worth it for ME.