Whats the deal with AirDrop on iPad2?

AirDrop is available but AirPlay is not on my MacBook Air (2010).

I know that this is because the lack of hardware support for on-the-fly video compression.

  But then, why can i use AirPlay perfectly well on my iPad2 (2011), but AirDrop is an unavailable feature in iOS 7??

 

MacBook Air and iPad 2 both have Wifi a/b/g/n and bluetooth 2.1 + EDR.

If there is no good reason for this inconvenience, how can they get away with making 2 year old hardware obsolete??

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