On one hand, I agree: the Mini is an incredibly flexible device for all sorts of situations.

On the other hand the iPad is Apples' low-priced, mass-market computing platform. The cheapest iPad is just over $300 and capable of a lot more than the equivalent in Windows or Chrome for the average user. Need more power? The Air model is only $600. The cheapest Macbook? One thousand dollars.

Jobs knew the value of keeping lower priced models on the market for people to buy your brand cache but who don't have the income. The iPod blew up once the cheaper Nano came out and they still offered a $50 shuffle model.

The iPad is, bar the Pro model never in direct competition with the Mac. What it is is an affordable way for most people to access the most varied and flexible application marketplace on the planet on a device capable of anything you put your mind to.