Nice Chester, I'm selling the 32gb White/Silver with Cellular and Retina Display, the Cell versions has a chip in it that updates home point if you change positions. You don't have to pay for cell service just a added feature with the cell capable ones. The wifi only Ipads do not have the GPS Chip, where as the Android Devices do have the GPS and Compass Chips be it wifi only or wifi with cell.
Yours will work fine as well as you found out!
Just if or when DJI adds Follow Me or you change your home point from last wifi connection it will not find you. If you have Hot Spot on your cell use that with the wifi only Ipad, than your golden.
The only flight functions that use the GPS receiver in your tablet are:
1. Follow-me has to know the location of the target to be able to follow it.
2. Resetting home to the current location of the controller - used if you fly from a moving boat, car, or walk away as your flying, etc.
If you don't need those features (most flyers don't) there's no benefit from having a GPS enabled iPad.