The iPad will likely blow the doors off of your external hard drive but not in the way I'm guessing you'll try to use it. Also given some of your post history.... I'd stick with the USB hard drive.
Unless they changed something in the 2022 model, while sure you can get your 100MB+ easily, the previous models was doing pretty crappy at 500MB/s https://wccftech.com/m1-ipad-pro-thunderbolt-3-data-transfer-speeds/
Could be heat limitations, or just throttling to keep heat down...
I mean, Apple is still limiting the new 10th gen Ipad to USB 2 speeds... like really? You put in a USB-C connector, but keep the same chip and on USB2 speeds? I know most will use wifi, but those times when maybe you do want to move a boat load of items over via a faster method, oh well! Apple, innovators apparently...