iPad Pro M1 12.9 inch, touch screen no stopped working

Presumably when your iPad was assessed - and found to be faulty - you will actually have been offered two options:

1) Replace the iPad

2) Repair the iPad

iPad Repair & Service - Apple Support

For practical purposes, in lieu of repairing and returning your own iPad, Apple usually exchange the iPad for a renewed/refurbished iPad of the same model and specification. The cost of the exchange is the same as would otherwise be charged for repair. Unless you have benefit of an active AppleCare plan, an out-of-warranty repair while expensive will be somewhat less than the cost of a replacement iPad.

If you have an active AppleCare+ plan, the cost of repair is reduced to a small excess/deductible fee.