Why do you find this funny? It's a concise, relatively jargon free, precise description of the problem. If it's true, it's also a pretty blatant bug - it's one thing not to release your DHCP lease. It's another thing entirely _to continue communicating with an IP address from an expired lease_.
The only possible excuse (for the network stack developers) is that your parent operating system suspended, and that you weren't able to track how much time had passed - but, iPads (in my limited experience) are pretty good at tracking time.