Interesting it still seems visually identical to the last one. So while iPhones change their "look" to be recognizably new as a status symbol (e.g. the notch), nobody seems to care about that with their iPad. (I mean, I certainly don't.)
With a phone you grip the phone by its back, so you can go bezelless without impacting visibility and causing too many phantom screen taps. With a tablet, however, you will usually grip it by its sides. Having the bezels is almost a necessity here.
The device is pricey and niche, but credit where credit is due: they deserve praise for bucking market trends and just making a device really comfortable to hold.
If I'm holding it one-handed to write/draw with the pencil, I'm generally supporting it on the inside of my forearm and gripping the top corner with my hand to keep it there.
Two-handed I'll hold by the bottom corners to use the split keyboard once in a while.
In either case I don't really need the bezel. I do have a slim hard case on it though, maybe without that people are doing more of the "thumb on the front" for grip leverage.