If that were the case why do they bother with an iPad, iPad Air, iPad Pro, iPhone SE, iPhone, iPhone Pro, iPhone Pro Max, ... each with their own number of colors and storage variations.
iPad Air was created to make a new price category.
The iPhone SE exists because there is a market for this form factor. If you look at the specs, you would notice it uses hardware previously used by more expensive models.
> iPhone, iPhone Pro, iPhone Pro Max
Again, different customers for different form-factors. These phones differ more than just SoC in them.
You understand that having N different colors of iPads is different from having N different SoCs for the same model of an iPad.
