Will the iPad Mini usurp its older brother?

The consensus seems to be that the iPad Mini is capable of everything the iPad is, but in a more portable package. I've never really felt like my iPad was too big, but having seen (well, in the Apple ads) the possible use cases for a smaller iPad, I definitely see the appeal.

Here's my thinking - if Apple were to release an iPad Mini with a Retina Display next year alongside a 5th gen iPad with beefed up specs, I can imagine a lot more people would be tempted by the compact size and the cheaper price of the iPad Mini over the iPad. Does anyone else see this becoming a likely scenario? While Apple are the best at cannibalising their own products, Tim Cook came out today and said the margins on the Mini are lower, so this might not be in Apple's best interests. Unless they release a Siri-type (i.e. flagship) feature unique to the iPad that regular consumers respond to (which discounts processors/RAM/storage), I can see the Mini dethroning its older brother.