How is that insulting? Unless you pre-ordered it before they announced it (which is impossible), they owe you nothing. Unless they ditch support, or take away features from the previous Minis... there really isn't much you can argue.
I'm not saying they owed me anything, but this is arguably the worst "refresh" of any modern Apple product. There hasn't been a worse "upgrade" I remember in all of my years using Apple products. No iDevice has ever seen an update this poor, and I expected better from Apple, especially because the Mini has been very successful for them.
To not include a new chip in the iPad is just puzzling to me. It's literally last year tech at the same price.