Yes it very expensive on the other hand there is nothing out there that can touch it like Mike said.
Apple says that Logic 2 for the IOS can rival big studio stuff. I have Rip X Daw stem splitter and it uses my GPU to help the performance. It takes about 6-7 minutes to do a 3 minute song. I watched the Ipad Pro do it in about 10 seconds it looked like. Mind blowing performance.
Logic 2 works just the same except you have touch control instead. Also you have the advantage of being able to work on your music no matter where you are.

As far as something else come along that will make this model be "old news" more than likely as you said yourself. For a lot of us bedroom studio guys having fun playing and recording music we have tons more stuff than we ever need!!!
My Desktop PC is far more powerful than my 2018 iMac. It does not have Apple Silicone since that was not invented till 2020 therefore I can't use the stem splitter & Chromaglow features. Logic Pro for $199 for life is a heck of a steal and I do love the new upgrade with the session players.

I guess what it boils down to is how much money do you want to spend and what is your requirements? As far as can tell the iPad Pro handle it and I am convinced it should be able to handle about anything you throw at it.

BIAB 2025 Ultrapack- Studio One Pro 7 Windows 11, Mac Mini M4 with Logic Pro 11, Melodyne Studio