You'd be surprised by the horsepower some games require, my wife plays Love and Deep Space and she recently just bought a new iPad because the game requires some good specs and a LOT of storage space. She's not a "serious gamer" as your parlance.
But the iPad is not a console … it doesn’t even do Steam. All that horsepower to play … a couple of forever titles and that’s it.
I have the M1 iPad Air and it has never used that processor to its fullest. I think iPad is just an odd device for most people
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Yeah, maybe I'm too much of a "real gamer" but my iPad sits unused. The quality (and greediness!) of games on the iOS App Store is often worse than the direct-download console slop.