Not my experience - the Victorian books I bought cheap as a teenager I wouldn't even attempt to replace these days. Maybe the books I'm interested in held their value for some reason. (Just picked one at random, the exact binding I have isn't in abe, but the two closest, less decorative examples are 135GBP and 195GBP).
If you find someone who has cataloged and listed what they have, especially of “pre-ISBN” books you’re going to have a certain price floor. And if you want a book, likely others do, too.
But you also can find them and garage and thrift stores, languishing unsold.
Which perhaps people buying books because how they look on the shelf is bad, but is it worse than the giant recycling grinder machine turning them into pulp to fuel Amazon’s Mordor-esque delivery furnaces?