If you had a friend/relative that didn't have much money, and was asking you for advice about which "computer" to get and they can only have one. Would you recommend an ipad? There is no chance I would recommend an ipad in this context.
Jobs liked to describe computers as bicycles for the mind. The ipad is a unicycle for the mind.
For example, there's no notion of rendering a video in the background, organizing project files independent of the application, a plugin ecosystem for creative software, and proper IPC between these apps. So even though the market is different, there's still a lot to be done to come close to desktop editing workflows.
I've been a little confused about Apple's product lineup the last decade; does anybody else miss the foursquare grid of consumer/pro and desktop/portable?
So the iPad Pro actually does make sense for color timing and proofs and working in DaVinci Resolve etc? If the display is relevant for this, damn straight giving it a good CPU is going to matter.
People are going to be doing serious video color correction work on these things. I certainly won't… but it's going to start looking very compelling for that audience.
It has a great screen, it's very fast, it has built in 4G and the single tasking nature also makes it my favourite tool for writing (including coding, if I don't have to do UI work as well).
For me, it's definitely a creation device and one of my favourite computers of all time.
It's also infuriating because it could do so much more - but as soon as it starts multi-tasking properly it will lose some of its strengths. Same goes for the magic keyboard - I use it a lot but the utility of it has to be balanced by the fact that it turns it into a laptop, which is something it's not.
Anecdotally, these days my wife (an artist) does digital painting and photo editing exclusively on her iPad Pro because she prefers the software available there combined with the Apple pencil.
I don't even understand why programmers are always so up in arms about devices like the iPad. Why on earth does one want to program on a handheld touchscreen device anyway? I have zero expectations for that, much like I have zero expectations for the laptop I do program on to be a good drawing device.
"I can't boot an OpenBSD VM on it so it must only be for watching YouTube, for sheeple consumers, not godlike 'creators' like me".
Meanwhile it's plainly great for all kinds of creation-oriented activities, especially where the real-world meets the digital. The sensors are great. Pencil is great. It's a really good companion-tool for all kinds of real-world work, better than a laptop (though actually iPhones often beat both iPads and "real" computers, in that regard, just because of the form factor) Plus it's got some damn good, often-interactive educational apps, some of which work better on a tablet than they would anywhere else. Much the hell better for several of those things than any laptop running a "real OS for Serious Work".
But no, it's just a Netflix console for drooling morons, because you can't easily HAX0R it to replace the lock screen with a port of DOOM, since if you can't do that then it must not be any use for creating things. Give me a break.
My original point was that productivity apps, whether its photo/video/audio editing, word processing, or 3D modeling, all categorically benefit from features like better file management, IPC, background processing, working with external displays, easier keyboard/trackpad navigation, etc...
I saw some things in the presentation around external storage and thunderbolt devices which look like steps in the right direction, but the OS is really not doing it any favors. I would guess that the iPad is successful among this demographic despite iPadOS, not because of it.
Point is, the limitation is software. Even an extremely underpowered niche toy beats the iPad in a common, intuitive task for such a device.