Michael,
You must be old school.
All you have to do is do a search in YouTube to see plenty of college level students using iPad Pros.
A lot for business and medical/psychology/pharmacology majors and some engineering disciplines like chemical engineering and some various sciences majors.
Basically education majors that do not need the full resources of a full blown laptop.
The iPad or iPad Pro seems to be working out fine for many of these students.
They can record the audio for class.
Many get their textbooks electronically ( PDFs or as Apple Books, Kindle Books ) to use on their iPad/iPad Pros.
Many can take quuizzes and tests electronically from their iPads.
For in-class slide presentations, the students can either get these slides in a document/PDF format or images or some students use the iPad’s rear camera to take pictures of the classroom slideshow presentation to be able to either add to a notes app for marking up or adding info to these images.
Lots of tedious college classwork can BE done and rather easily on an iPad Pro.
Many using the Apple Pencil or third party Bluetooth stylii on iPad/iPad Pros to take handwritten notes in class, now.
Many notes apps have handwriting to text conversion, now, which is great!
Lots of apps for typing full college papers with various linked annotation features on an iPad, and submit these electronically, now, no problem.
Even for art and photography majors, like myself, iPad Pros are being used in college environments, in addition to doing both traditional art and digital art on a more powerful, sophisticated, full featured computer.
It is amazing to see what both high school and college students are doing with their iPads/iPad Pros, now.
Some really know how to get the most from these devices.
Even I have been surprised, at times, what students can do with an iPad/iPad Pro!