Personally, I think this case is just some BS leaked to throw us all off. Nothing makes sense... smart connector in portrait mode? Existing smart connector relocated to where the volume buttons are is clumsy. The potential microphone hole where the smart connector was. All totally bizarre
I concur that this case does not make any sense with its cutouts.
What Ifind interesting that that for the logic in me, why Apple cannot center the volume buttons to the middle of the iPad. On the other side of the Smart Connector. The lightening port stays where it is or maybe another on the other side for accessories/lightening headphone jack.
When you hold the iPad in your hand you have to switch hands to hold it firmly and then release your right hand to operate the volume button. Having it lower at the center of the iPad a user can operate it with their right hand while still holding the device.
The present configuration of the volume rocker is designed for a phone placement. To be operated with your right thumb while holding the the device. Poor implementation and design on Apples port for the iPad.