Flooding
I personally don't care if they release a new iPad mini so soon after the first generation because it's perfect for my uses.
I think if they do release a new one, then it's Apple's way of flooding the market with the products. It makes sense to me, first sell the basic product to those that are either fanboys or early adopters that understand its limitations, and then come out with a more advanced version to appease those that wanted it in the first place.
It's a,so a way to please the ones that want different sizes of their products. I have an iPhone 4S and an iPad mini and am very happy with both. Seem pele however want the retina iPad and the iPhone 5; great. Now everyone is happy.