Directionally, that's why companies are getting rid of token leaderboards and imposing limits on LLM costs. There's a diminishing marginal return to tokens
There is increase in (not only perceived) value _somewhere_ - IMO depends on the organizational culture. At my work I found going over 100$ on OpenAI/Anthropic's API pricing does not produce any meaningful additional output. It might be much different in different companies.
Pay me 8x to get 10x, great. Pay me 8x to get 3x, nope.