That's what I have, and it's still fine for media consumption. It also more than keeps up with my inability to draw and my unwillingness to videoconference. But I'm finding games more often running into (and possibly over, judging from some crashing) the 4GB RAM limit after recent updates. Also, for people not already invested, lightning sucks.The 9th Gen iPad for $199 is hard to beat and has plenty of life left.
However, I don't even care yet that I'm missing out on "future" Apple Intelligence stuff: I'm still surprised at how many third party apps don't make use of any iPad's full screen, and are just iOS apps with the bit toggled to allow use on iPads with the lowest possible effort and huge black bars. Back when I was Android-only I always assumed that iOS/iPadOS were what devs wrote for first, and us poor robots just got ports. Now that I have an iPad, I see in many cases the Android versions of apps actually make better use of the screen. WTF, devs? And why is nobody hammering this point?
Oh, but if people do want to mention Apple Intelligence in the base model as necessary to drive sales: remember that the base model iPad is the one they sell to schools. Just how much of that do you want turned on by default, with kid users? What kind of privacy and tracking (and legal liability) issues are going to result? And okay, sure, let's assume they have a software switch so all of that is off by default on managed (school and corporate) devices, but, then... what's the value proposition of the new iPad 11 over the 10, for schools?