WotC, among many other horrific faults, were worse money-grubbing whores than late-TSR
I think 3E started with some pretty good supplements, but yes, what you're saying is essentially true. It became
really apparent in the dying days of the 3.5 era when their supplement quality fell through the floor. Poor fluff, poor ideas, cheap art... I think the font may have also been larger? The only one of those I still have around is the Planar Handbook, which is total fucking shit from start to end and a massive disappointment in comparison to the much earlier 3E Manual of the Planes, which is one of my favorite RPG books of any stripe.
Then again, the whole 3.5 ed even existing proves your point quite beautifully, I think. :D Oh well, at least it made rangers not suck...