It's all relative
Carbon Fiber has changed everything in cycling, though, including aerodynamics, the ability to shape tubes & components with weight & aerodynamic benefits. It can get expensive quickly though. But we all know what thats all about
On another note, there is a shop here locally that has a bunch of vintage racing bikes hanging from the rafters. Very evident that quality & style have been prominent in cycling for many decades. Great sport, not too unlike auto racing in many ways!