I don't know but probably. A good wrap job isn't actually much cheaper than a decent paint job, the undersurface still has to be prepped as any dents or chips will show through (less of a concern with a new car though). Applying vinyl without any wrinkles and cutting it perfectly is a skill. Guys need to pay the rent on the shop, pay for tools, and make a living.
Ya not discounting the labor. But as a consumer I really dislike bland and universal car colors, but I can’t justify spending thousands for a custom color.