The iPad Air is nothing near the compromised product that the iPad 3 was.
NOTHING.
That is an utterly ridiculous, and quite frankly a factually incorrect and easily debunked, statement.
The iPad 3 was replaced after some six/seven months on sale. This annoyed me no end given I bought it on launch and it was my first ever iPad. Not the best start to iPad ownership eh?
The iPad 3 wasn't powerful enough to run 3D games at Retina Resolution with all effects enabled. See the NOVA 3 debacle (iPad 2 res with full effects or Retina resolution with zero effects, those were the choices).
I have owned, to date, iPad 3, iPad 4, and now iPad Air.
The whole RAM issue, which I know would be your "go to" retort clearly isn't an issue since you didn't mention iPad 4 in your "dud list." And it's not a regular A7 in the Air, it is clocked higher than the A7 found in the iPhone 5s. Would an X chip have been nice? Of course it would. A "dud" though? Behave.
iPad Air still screams in app performance today, there is nothing available today I can't throw at it, and the simple fact is that RIGHT NOW in terms of app performance the Air and Air 2 are identical bar some quicker loading times by a second or two. Go and look at newer/bigger titles like AG Drive, Implosion, Radiation Island, Oddworld - Strangers Wrath, Monster Hunter - Freedom Unite, etc ... identical and flawless performance.
Air 2 will stretch its legs, eventually ... but by then the usual suspects on here who proclaim the newest iPad is the be all and end all, who say they won't upgrade annually again, will move onto the iPad Air 3 and be telling us the "Air 3 is what the Air 2 should've been."