That may be, but it may also be that when computers become better than a human at something, that happened because we gained a greater understanding of how to make that happen, and that greater understanding is what leads us to stop considering it a sign of intelligence.
Hero of Alexandria, who lived from 10AD to 70AD, is famous for his mechanical inventions. One that I recall was a mechanism that opened the doors to a temple when a fire was lit in a brazier outside. To the people of the time, who didn't understand mechanics, this was a sign of the gods and the everyday miracles they would perform. But to anyone who knew how it worked, it was a simple mechanism.
A computer that plays a complex game, or creates art, or understands spoken queries and answers verbally, or identifies things in photos, or drives a car, seems like magic to most people. But to software developers who understand the algorithms behind those actions there's no magic, and no intelligence. It's just software.
The promise, and claim, of AI boils down to this: that what's going on inside of our own heads is also just software. Maybe that's true, maybe it isn't. Even if it's true, there's no guarantee that equivalent software can be run on the artificial hardware we've produced. So yes, we keep raising the bar, but I think that's because we keep discovering that the bar was actually already higher than we thought it was.