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I now know 4 that use iPad as their only computing device, if you exclude an iPhone. Fro them I get it and they really are the current & future target market for Apple in general consumer land. They use it for emails, banking, browsing, gaming, media consumption, MS Officed related work (letters, notes, spreadsheet for budgeting).

Works really well for them with the only gripe that it could be a better experience when connected to an external monitor for the occasions when that is needed.
 
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2020 11 inch iPad Pro here + MK and a six core Mac mini at home. I think I have the best of both worlds, portability and a tablet with many things of a notebook when I’m at work, and a little powerhorse when at home.
The best part of the iPad with the MK is I can use it like a notebook or as a tablet and the trackpad is great. The only drawback is certain incompatibility with a video codec I need for work, is a mp4 from a news agency and it won’t open in Luma Fusion nor the in files app, but I can live with it.

Yes, when the M1 Air came out had some second thoughts about the iPad, but I’m keeping it because of the portability and the tablet use, it‘s great for reading and surfing the web while in bed or couch.

Maybe when the M2 or M3? Macs come out I jump in, but for now I’ll wait.
 
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