The M1 has the necessary hardware to run virtualization. Apple could decide to allow VMWare or Parallels to bring desktop virtualization software to the iPad. You could have an all-in-one device for casual use, note taking, art and media consumption that turns into a capable Linux desktop at will. There's even 16GB RAM options available to make that reasonably comfortable, as well as a port to connect to a dock.

But I don't think that matches with what Apple considers the iPad to be, so we won't see it. Especially because virtualization would imply virtualized macOS too. I bet it remains amazing hardware crippled by software flexibility - from my perspective at least. It's hardware I'd really want to buy but really can't justify.

All the pieces are there in hardware, only limited by Apple's software choices. A shame, really.