Having said that... it turns out that I was right, after all. Technically, anyway. Apple will never announce an iPad Air 3. Sure, they call it the iPad Pro instead. But why quibble...
You're right in the sense that the 9.7" iPad Pro, which is effectively an iPad Air 3, isn't called that. Apple has expanded its product range to offer Pro/Air/mini models, just like it does for the Mac, and I expect there will be further updates next year, if not before.
It's interesting that Apple chose to release the iPad Pro before it updates its MacBook Pro laptops, suggesting that it's actively trying to migrate some of its Pro user base to its iOS platform, which it sees as the future of portable computing.
Looks nice a very nice device. But it's still no PC replacement, without support for a touchpad or pointing device with the keyboard. And it still runs IOS, which still doesn't support the same full functionality for many apps as OSX does.
But, as a consumption device... yes, it's really nice.
Even previous models of iPad have considerable creative potential for music, photography, video, etc., as well as more traditional applications like email, internet, and word processing. It's not a PC (hence no mouse), but the iPad already supports several perfectly respectable pointing devices—your fingers, and now the Apple Pencil—and can do many of the tasks that PCs are traditionally used for, which means that for many people it is a PC-replacement.
Also, iOS 10, which will no doubt include more 'Pro' level features, is just around the corner.