Originally Posted by Mister Snitch
The refund is actually quite generous. Apple's learned from past experience that, even though they are by no means obliged to offer such a refund, it's simply more trouble than it's worth NOT to appease people.
Everyone knows that today's tech wonder is tomorrow's doorstop, yet people still complain when their Great New Thing becomes Old News. Of course, now the people who bought their iPads FIFTEEN days ago will complain mightily. And so it goes.
Not site why apple stopped doing this but before a new update, they would run put of stock for two weeks. Avoiding all the complaints.