I think Apple is very much a mega-corp who does everything to create greater profit but I'm not sure they are limiting devices to make sure you buy more. More than likely it's because iPadOS is based on iOS, and thus it's naturally more of a consumption device with all of those locked down hard limits.

IMO they should do a hard turn and make iPadOS it's own thing. Give it the benefits of iOS but with macOS flexibility. Right now, it's essentially a bigger phone.