That comparison was true back in 2012 when the first version was released, too.

Things like used PCs and forgotten closet laptops were running circles around brand-new Raspberry Pi systems, in performance per dollar, for as long as we've had new Raspberry Pis to make that comparison with.

Those first Pis didn't even have wifi, and they were as picky about power supplies and stuff back then as a Pi 5 is today.

The primary aspects that are new are that the featureset of new models continues to improve, and the price of a bare board has increased by an inflation-adjusted ~$10.

(Meanwhile: A bare Pi 3B still costs $35 right now -- same as in 2016. When adjusted for inflation, it has become cheaper. $35 in 2016 is worth about $48 today.)