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It's an ok deal as they were even cheaper last year. Amazon and BB were selling the 12.9" M1 iPP for $799.
Definitely not a deal for the base model, but the higher you go the better. The 2TB units retailed at $1899. Here you're getting a folio and the 2TB 11" pro for $849.
 
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I’ve been looking at deals for M1 iPad Pros in U.K. from Costco. I was comparing them to an iPad Air 256Gb from education store for £789, which at the moment comes with a £100 gift card. Currently using an iPad mini 5th Gen 64GB which struggles with storage, it keeps having to offload apps.
Costco have a 1TB 11” iPad Pro for £840, which must surely out perform an Air? They had 128Gb M1 iPad Pros for £530 that I hesitated to buy and now wish I had.
 
Go for the 1TB Pro. It also has more RAM (16GB) than the smaller versions and the air. I believe the display is better than the air as well (though not as good as the 12”) and you get Face ID, plus real Thunderbolt for external monitor or storage support.
 
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