The iPad can't do general purpose computing. General purpose computing by definition requires that you be able to run arbitrary software from any source of your choosing.
That's one definition, but it's not the only one.
I can run a variety of office suites (including MS). I can save and load files in any format to/from local storage (including a USB-C external drive), or multiple cloud platforms -- and/or print those files to either of two wireless printers in my house.
I can connect a USB-C audio interface -- the same one I use with a desktop PC or Mac -- and record high-bitrate multi-channel audio. I can edit and mix that audio, and output it using any of the above-mentioned storage methods. I can edit video. Play games. Manage my network. Etc., etc.
Those are the same things that I (and most people) do on desktop PCs and laptops with Windows or MacOS -- and yes, I have those as well.
Obviously some computing devices are better-suited to some applications, but that's more a matter of form factor. To say that an iPad is "an overpriced toy, nothing more," solely on the basis of not running code from arbitrary sources, is (a) doctrinaire, and (b) not reflective of how most of the world uses computing tools.