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It would be stupid if they did. I say so because even the Mini 3 is ahead of the Air, because it has Touch ID, which we all know is a very useful feature. I actually expect it to be more like the original Mini, in that it is not a shrunken down Air 2 or Air 3, but somewhere in between, like the original Mini was with the iPad 2 and iPad 4.

Here's what I mean:
iPad 4: iPad 2 + better internals, higher resolution, better cameras and Siri
iPad Mini: Smaller iPad 2 + better cameras and Siri

And then according to that, here's what I think will happen later this year (this is all speculation):
iPad Air 3: iPad Air 2 + better internals, better battery life, better cameras and Force Touch
iPad Mini 4: Smaller iPad Air 2 + better cameras and Force Touch

What do you think?
 
I feel like it will be a miniature iPad Air 2 in design with slightly upgraded cameras (compared to the Air 2) and the A9. I also feel like the Air 3 will just be a bigger Mini 4 with a slightly higher clocked A9 (no A9X).
 
I would happily pick up a mini 4 if it has the same specs as the Air 2. Crucial for me are 2GB RAM and the improved, laminated screen. A processing increase is a given and the A8X is a beast so would be more than happy with that. The Air 2 is the first iPad I am not intending on upgrading as it just works that well for me.
 
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