Not a faulty memory (unless I have it too). For us YYZ-YXS used to be that the standard fare plus the cost of a bag and seat selection made the flex fare only a few shekels more expensive. We always had a second regional seat $$ so that makes our difference even smaller.
Before family sharing, cheapo Dad would book the standard fare (or Tango I think) if boys were flying solo with no baggage and pocket the change. If any of those conditions weren't met, then I'd buy Flex.
We tend to run on short timelines, so I wonder too if those prices will come back into line as the dates close in and the few ultra low fares are already booked.