I think I agree with you on both points. More-so the former point than the latter. On the former, I do think they’ve lost the product/customer narrative in the

I think I agree with you on both points. More-so the former point than the latter. On the former, I do think they’ve lost the product/customer narrative in the last couple years and I think it’ll take another WWDC and another iOS update for them to find their way. They’re just now re-focusing on both iPad hardware AND software. For a few years (mid 2010s?) they doled out a few hardware updates that moved the needle moderately but the software didn’t (and you can argue still doesn’t to the fullest extent) take advantage of iPad to provide the functionality leaps it needs to have a compelling narrative. We’re just now in the past year or two starting to see the narrative develop with iPad Pro, Pencil, and iOS 11/12. A similar strong narrative probably needs to develop for the lower end iPads though I’m sure they’ll continue to sell simply because everyone else in the market is either asleep or incapable. On the latter point, I agree with the spirit and I love how you phrased it. However, I’m not actually sure how much it matters in this case. I’m not completely convinced it matters to the extent you seem to think it does. I think the supply chain optimization is fine and the whole point is that it’s not crazy different from last-year’s iPad but it’s a lower price point and meaningfully more capable (think schools buying in bulk, etc). It would be nice if they FOCUSED on the lower end but that has never been Apple’s style and they are very very deliberate about what things they choose to focus on. It’s both the greatest strength of the company and one of the weaknesses - two sides of the same coin as things tend to be.