Yes and no. If you compare memory capacity and GFLOPS, you will often find that those computers seem relatively unimpressive compared to what we have now. The value (and cost) in that hardware is often in capabilities and features that aren't necessarily reflected in numbers and bullet points.

If you were to take that machine and put it up against a 1 GFLOP desktop with the equivalent amount of RAM and disk storage, the Cray would annihilate it on the tasks that it was purchased for.