Again..........
And I'll say it again and again till it happens, which I'm sure it will
Apple, at some point, need to have a range, or at least 2 different iPad versions.
It makes no sense to have 1 iMac model, or one MacBook model, and it "Will" make no sense to have one iPad model.
You will have customers who just want a low end model to read books, email, web, contacts, notes and perhaps just a few apps along with some music.
And these people will jump for the best priced option, and unless Apple do something, in perhaps 12 or 18 months time, the obvious choice for them will be a Low end Honeycomb tablet, of which there will be plenty.
On the other hand you will have others, some of us here, that want a higher end model, with bells and whistles and can run some "then" heavyweight apps with more ease.
I don't really see this as terrible in a fragmentation way, after all, different OSX machine from Apple run the same software at different speeds.
3D Raytraced Modelling / AutoCad programs on a MacBook Air for example.
I know it's nice to have just the 1 model, but I'm not sure how practical it is.
Either you price it too high so you lose the low end market, or you keep the price on the affordable side and then you can't really use the best parts as they would push the price of the device higher.
iPad and iPad Pro perhaps
Again, I'm sure this will happen, I'm just not sure when it will.