People who are comparing the (early) 2020 iPad Pro to the iPad 3 are missing the point of what was so bad about the iPad 3 which was it was woefully under powered for the screen resolution, so much so that the iPad 2 was better long term.
Here at least Apple upgraded the Pro if ever so slightly, but it was an improvement over the previous model with more RAM, more storage, better camera and slightly better GPU. It would have been worse if they kept selling the 2018 model and people bought that instead.
Having the Pro come out now makes a lot of sense as it then allows for the standard iPad to have the A12 and the Air to have the A14 while the Pro has the A14X.
The new iPad Air would make for a great cheaper iPad Pro like device and would be something I'd consider picking up, though the rumored price increase seems to defeat that somewhat if true.