I think it is. We have been using it at my day job and we regularly choose sonnet 4.6 for well scoped things. Opus 4.6 was good but the 4.7 opus model burns so many tokens and dollars that it’s just not worth it given the incremental improvement in results.
They also changed how they count tokens. So you could end up with less reasoning while paying for more tokens. Anthropic’s profit margin is definitely higher on 4.7 then it was an 4.6. I’m pretty sure this was the main driver behind this update.