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My theory of upgrade is one upgrades when one sees a new feature that one really wants. For example, my main reading device is an original iPad Pro, 12.9 with 128 GB circa 2015. I plan to upgrade to get a faster unit with a whole lot more memory (the memory is getting a bit cramped on this one). The generations 2 model with 512 GB should fit the bill, but I'm going to hold off until they do the June announcements and see if a Generation 3 model is announced.
From that stand point, the question becomes do you see a new model that has a feature you really want? Of course, nothing wrong with getting a new model just because. If the red light feature interest you and money isn't a concern, why not give it a try and see if you like it.
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