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This appears to be a replacement for the first gen pencil, i.e., as a lower cost alternative to the second gen pencil. It only charges using USB-C, but will still attach to the side of an iPad like the more expensive model will. It will work with any iPad with a USB-C port according to the specs.

The first gen is still for sale at a higher price. It has pressure sensing which this new low-cost model does not. The new one support hovering on iPad Pros which the first gen doesn't.
 
Umm... It doesn't respond to pressure. So this definitely isn't for artists. I'm guessing this is just for note takers. Here's the graph
 

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I'll eat crow on this one. I totally did not expect them to release an accessory separate from a minor or major product revision. All the more weird because the product has an odd value proposition that nobody would reflect on if there was new hardware to talk about...
 
Is this compatible with the iPad (10th generation)? If so, this is perfect for my girlfriend. The new iPad has USB-C. I bought her that iPad and wasn't going to get her the Lightning Apple Pencil. If this new pencil is compatible, then she'll be able to charge it with the USB-C port on her iPad.
 
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