Apple products are always failures from a specifications standpoint. Apple is about the user experience. It is the app ecosystem that will sell the iPad mini. Those looking merely for a reader or movie viewer, web browser will be nicely served by the competition.
There is a market for both. All three will be successful.
Those who buy or evaluate based on socs will forever be mystified as to why Apple is so successful...and why Apple always has far and away the most happy customers.