100%, the iPad Pro specs are overkill based upon current iPadOS and App capabilities. I would put good money now the reason for this is the convergence this year of some sort of hybrid macOS/iPadOS. The reason for the high price for a specced out iPad Pro is as they know it will cannibalise MacBook Sales.
The guy on Macrumours who posted this below is on the money
The iPad Pro and the Macs now have exactly the same internals for the most part with iPad Pro having better spec. Apple telling me that I should buy two extremely expensive devices with exactly the same internals because they've arbitrarily decided to limit what those devices can do is preposterous.
There's no reason at all that the iPad Pro couldn't become the holy grail that Microsoft has been chasing for decades: the everything computer. When you're using it as a tablet, it's an iOS device. Dock it and it becomes a macOS device. I'd buy that right now, this very second.
As it stands, Apple seems to believe that I should buy an M1 device to do iPad things and a basically identical M1 device to do non-iPad things, because, hey, that's more money for them and less convenience for me.