I have been holding off buying a new iPad Pro because of this.
I was expecting the base iPad Pro M4 models to have increased RAM, but didn't happen, now even iPhone 16e comes with 8GB RAM.
An iPad Pro definitely needs more RAM than a "budget" iPhone, especially if you don't upgrade often and want something that is somewhat future proof.
I'm with you on this, the iPad Pro has gotten already expensive enough, don't feel like getting the 1TB version just for the extra RAM. And when the base M4 model with 8GB won't get certain iOS features (or they will drop support) because lack of RAM, the same will happen with the 16GB model, just because Apple is Apple, they will pretend like the 16GB model didn't exist.
That's why it's important for the base model to get more RAM.
The upcoming iPhone 17 Pro is rumored to get 12GB RAM, so it makes sense for M5 iPad Pro to have at least 12GB, although 16GB would be even better.
I guess the M4 was the switch to OLED and M5 will be the spec bump.