Then who will buy the iPad Air?
iPad A(n-2 or more) chip
iPad Air M( n-1 or so ) chip.
Memory. (i.e., ability to run multiple concurrent apps and whatever local footprint apps (e.g. local AI))
So maybe 8GB versus 12GB. (the entry iPad was at 4GB and now at 6GB. )
With current memory supply crisis there is not likely that the base iPad is getting same memory as the iPad Air. ( more money in Air's price to pay for higher priced memory).
Most likely Apple is dragging their feet because they would like to get away with being able to sell the plain iPad at $250-75 range and still make a profit they like. (there are sales several times a year to get the plain iPad down to those levels. ) . < $300 chromebooks , Fire Tablets (sub $300), sub $300 Android tablets , etc.
The wave of the A-series chasing more RAM for "Apple Intelligence" is a bit of a disconnect with the plain iPad's mission. The Apple keyboard you keep trying to throw into the system price is misdirection. The market that iPad is target at wants the whole system to be below $300 or they not buying it. Period.
Throw on top "Apple Intelligence" is not a huge short term 'value add'. If the A18 has to punt more of what is eventually "Apple AI" into the cloud then a A15 iPad probably can punt almost just as easily off system and into the cloud. If Apple AI was a large value add then maybe they could pull some folks over the $300 barrier, but right not that clearly unproven.
The A18 will mainly 'buy' Apple lower margins. For now , until adjust to new NAND/RAM prices they probably just want to 'punt' the plain iPad impact into the future when they have more data/knowledge/scope.
P.S. The Neo is going to 'disrupt' some of the "back-to-school in Fall" planning already. (on the top half of the Chromebook scale). Mudding the waters with a possible pricing change on iPad also is unnecessary. It would not be surprising for Apple to wait until after 'back-to-school" season largely completes. Collect the data and figure out next move for plain iPad. ( sell the older 'well known' model for now).