I think the answer is probably yes. Since they made the iPad Air 2 thinner and lighter after only one year, I think the iPad Air 3 will keep the same design. Apple probably wants as many people as possible to buy the 12" iPad, so that could be a reason why they focus less on the iPad Air 3.
I think most would say that every other iPad is the one that ended up being worth buying. The first iPad was not supported very long, the iPad 3 had heat issues and lower-than-adequate GPU performance, and the iPad Air only had 1GB of RAM. Maybe that cycle will continue?
It annoys me when people say that
'want' us to buy the more expensive item. If that was the case, why would they not make much difference between two iPhones, and persuade people to buy the bigger one? They keep saying that they put the customer first, and yes, I believe them. I'm not saying that they don't care about making money. They do a lot. But I think the only case where they made a cheaper product completely inferior was when they made the Mini 3, and they were working on so many things then that they could only really work on one iPad, and are they really going to do all the great iPad Air 2 stuff to the Mini and just add Touch ID to the Air? Don't think so.