So I've read through this thread and here goes.
Apple is a "for profit" company. They like money, and lately people have been willing to give apple lots of money for their products. Apple is attempting to maximize their profits. They want to keep people buying their stuff. If they support their prior products with the same software functions as new products would the masses have reasons to upgrade? Probably not.
So yes, apple is essentially cutting software updates for the iPad 1. It has happened to people with other devices, one day they learned their device was no longer supported. I am sure you may be aware about the outrage over Mac OS 10.7 not supporting rosetta, this was "outlandish", but also simply a biproduct of change.
Change happens, and companies like money, "user uprisings" will not force apple to support "legacy" products. The iphone 3GS, technicaly inferior or not, is still up for sale. Apple makes money from subsized sales of it, so of course they want to keep it up to date.
I have two iPad 1s and an iPod touch 3rd gen that will no longer be getting updates for iOS. I am moving on. I know everybody may not be able to purchase every new shiney apple gadget. I also understand that "spitting in the wind" so to speak wont help either.
Best of luck to you all.