The retina display was worth the price of admission, but maybe the most undervalued improvement was the doubling of internal RAM from 512Mb to 1Gb. The Dolphin web browser (one of the best 3rd party browsers, IMO) used to start warning me at the 5th open tab on my iPad 2, now it doesn't start whining until the 8th tab.
Then there's the whole notion of trickledown happiness. My wife got my iPad 2 and she's happy. My nephews got her iPad 1 and they're happy too. Everybody's happy, but especially me.
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