I like the way you guys think. 
I just upgraded to a full-frame mirrorless camera, so maybe a larger messenger bag would fit the budget best, as opposed to getting an M1 iPad in a smaller size. Although an excuse for more lenses is always good.
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I know folks say good lenses keep getting smaller and smaller, which is true to a point, but you can’t defy physics. I was in the Sony system for a while and am now all-in on Canon’s mirrorless system. Both of them have big and small lenses, but unless you exclusively buy pancakes, you still need the room to transport them when need be!
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I feel like pancakes… thanks… was just thinking what to have for breakfast 
- Bought a 4th gen iPad Air that I thought would serve me for 3-5 years (and yes, I thought long and hard if I should really get one).
- Replaced that with another 4th gen Air with cellular, on a carrier deal that was too good to pass.
- 5th gen M1 iPad Air would be my third 11" iPad purchase within months.
I’ve been using them basically as a dedicated device for studying. Haven’t done anything else on them. It looks as if Stage Manager and its external display support is the final missing piece of the puzzle that I’ve always missed but wanted - whose lack so far regularly drove me back to my Mac.
So while I do regret buying the 4th gen Airs a bit, I’m pretty sure I’ll upgrade.
I’ll mentally account the expense as part of my costs of studying. Given that this’ll be a dedicated device for me, and me being a bit prone to distraction…
Being able to do virtually everything I need (for my studies) on one device beats toying around with “Focus” and fullscreen modes on my Mac.
I have the 4th gen 12.9 iPad pro, I do not pretend that it can replace my MBP, but the iPad has it’s good use in playing games and watching videos.
I do not see the value in upgrading just to get stage manager as I am doing most of the real work on the MBP
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I resisted until the weekend, when I just couldn’t do it any longer - and went and got an M1 iPad Pro (up from 2020 A12Z). Installed the beta and… wow! For the first time, I can see myself using my iPad as my primary computing device. No buyer’s remorse so far - and I am very aware that I’m in a tiny, very fortunate minority of the world population who can do something like this on a whim.
Funny that you should say this… my company bought me the latest 12.9 and it’s gorgeous!
I’m planning on using it when I travel instead of my MBP14. I’m not looking to replace that with this.
I will add that I also bought the Logitech keyboard with the track pad and that makes a big difference in tens of my UX. Just wish it wasn’t so heavy…
iPad is my only ‘computer’ and I use it for everything such as photo & film editing, music making, teaching, web development, and as of late, learning Swift. I’m on the 2020 11” Pro and I won’t be upgrading to the M2. I bummed out about not getting Stage Manager but computers are at least 4 year purchases for me. I’ll have to stick it out till the M3 iPad Pro, and I definitely won’t be getting a Mac, whose UI I just don’t like.
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And indeed it is.
I’m not even sold on the multi-tasking features of stage manager yet.
I think I could (and may) stay with old-school split view and slide over.
But the new fullscreen external monitor support is a game-changer for me.