Well, even if you only compare the base prices, $449 is still a 36% increase.
A large chunk of that 36% can be explained by inflation - heck perhaps until now they have been artificially keeping the base price low to capture marketshare - who knows?
Full disclosure: I believe that the new price point makes iPad a much less compelling option. I also hate the way the article framed it. There was no need to construct a false reality when they could have simply run with 36% price increase - that's story enough.