Unfortunately yes, even if the price is not the indicator. I remember times when I stayed in a suite at a Palace-hotel for roughly a 1000 €. When I booked a suite at GV in 2022 it was 2200, when I stayed it was 4400, base room over 2000. All in €, not $ of course. Prices in Paris are crazy and there is a reason a thread with "cheaper options" (with still eye-watering prices) is tolerated at this forum for Paris. Surely their are solid or even very nice hotels available in Paris ("regular" 5 star), but they are not luxury in terms of this forum. I nearly stayed at Cour des Vosges which seems to qualify for this category. A few weeks ago Crillon (undoubtedly a luxury hotel) had a promotion with very good prices.