That is it in a nutshell. Looks like Apple is emphasizing more health monitoring with the new Series 7 Watch, and I like that. The better bands are a good addition as well assuming thy come in enough usable sizes. New Watch SE might be an option for many. New iPad 8th gen and iPad Air have a few new additions, but nothing stellar IMO.
BTW, Tim pronounces “Air” as “aay arrrrrr”. I thought he was introducing a new model named iPad AR. I had never heard the Air pronounced like that before!
I will be installing iPadOS 14 on both of my iPads tomorrow. I’m assuming it has to be an improvement over that garbage named iPadOS 13.