The only iOS device I can think of that LOOKED like a bad product, but wasn't, is the iPhone 4. I thought for sure its power-per-pixel long-term would hurt it, but thanks to the extra RAM and the fact that the developers ripped out some of the iOS 7 eye-candy it had a long life. Outside of the iPhone 4 the bad devices have been easy to spot.
That sounds about right, except I bought the iPhone 4 without much reservation, precisely because it had 512 MB RAM and got Retina.
I knew 4S would have a better CPU, but I wasn't sure by how much, and knew the 512 MB RAM would make a huge difference.
This was partially based on my experiences with computers, which was that CPU speed for non-gamers generally didn't matter that much, but amount of memory did.
so your ipad3 was working perfectly fine. and then it slowed down after an update?
and there's no way you can revert the update?
You can usually revert for a few days, but after that, no.
I reverted from iOS 8.0 to 7.1.2 on my iPad 2, because I couldn't take the performance hit. However, when 8.1.x dropped, I installed it. It was still slower than 7.1.2 but 8.1.x offered a big improvement over 8.0, and there were a few things I wanted/needed on 8.
BTW, regarding consumers and lack of interest in upgrades based on spec:
I asked two kids (tweens) what they thought of iOS 8.0 on the iPad mini (original). They both liked it, whereas I felt it was way too laggy. They simply didn't notice the problems, or if they did, they didn't care since their games still worked fine.