yes, super powerful 1 & 2 cost cards (and cards that refill hand quite efficiently) render 4+ cost cards irrelevant in any constructed format, even alchemy with its 2 year card pool rotation.

alchemy, prior to recent release of TDM & YTDM was a slower format than standard. but now, especially with temporary lockdown and other efficient removal that is legal in standard but not in alchemy, alchemy is dominated now by UR decks that are comprised mostly of 1 & 2 cost cards.