No. It's not outrageous. Just because you bought a product, it doesn't mean that the world will stop until YOU decide that it's worth it.
We're talking about a few months early for the update. That's it. If this had been announced in February or March? All you people bitching your brains out would be proclaiming about what a nice update it was.
The processor in the iPad 3 is still totally functional, and I guarantee that all those complaining would upgrade before it becomes "inferior". It will still run the top games amazingly, still push the limits of the retina display, and all that stuff that it did yesterday.
All this whining amounts to is a bunch of spoiled children throwing tantrums because the neighbor kid got a cooler toy than the one they got a few months ago.
Wow, you sound like a religious zealot. Only your religion is Apple. Never mind.