I’ve never really thought of the mini as a budget option. The mini 5 is more expensive then the regular iPad and I don’t think the price difference between the mini 5 and the air 3 was enough that people chose a smaller iPad (just like the iPhone 12 and the mini - it really doesn’t feel like most people who chose the mini 12 did it for cost reasons - they preferred the smaller but as robust featured phone). I also think the iPad mini is frequently used in some commercial applications.
I definitely think both the regular iPad and the mini will be going up in price, to match (at least partially) the increases we’ve already seen in the other iPads. Of course going forward they could see the mini as a budget option, and have its price more in line with the regular iPad than the air, with it being the cheapest option in the lineup. Which will be personally disappointing for me because I like the changes they made to the air, but I want it in a smaller package.
