That’s how I saw it. My wife and I each have hundreds of paragon points, so that new characters are born ridiculously OP. But IMHO
that’s fun, too! I collected all the speed runs, like “beat Act I in 1 hour” and that was challenging. Going for the ludicrous achievements like “kill 400 enemies consecutively” was fun. Running through a ridiculously hard timed dungeon, getting an electric charge, and watching all these uber-powerful demons explode as I sprint past them was way satisfying. Coming up with equipment sets where every piece doubles my damage points was engaging.
At launch, it was alright. Now that I’m a wildly powerful godlike thing that can kill Diablo by looking at him sideways, it’s an awful lot of fun in a completely different way.