Fair but I also know plenty of people who give their elderly folks their old iPads. If you fit all the important apps on the home screen and tweak a couple things, I can't imagine the UX could be any more complex than for this device. Mobility and screen size is even more important for the elderly. They don't want to stand in their kitchen staring down at a little computer to talk to their grandchild on a tiny screen.
And finally, when they do have issues and ask you questions: now it's questions about an unfamiliar device you may not own yourself!
Old iPad still seems optimal for this demographic.