The generations determine the version of an iPad which would other wise be indistinguishable by name alone.
For instance, Apple has made 4 different devices labeled as iPad Pro 12.9”. Starting in 2015.
Without te generation specification it would be very difficult to determine which device is being referenced.
Instead of calling it the 2015 iPad Pro 12.9”, its the First Generation iPad Pro 12.9”.
The 2017 Model is the second generation, the 2018 model is the third generation, and the 2020 model is the fourth generation.