I've seen engineers that are 25 year olds that call themselves seniors.
I've checked their past work and experiences and they are pretty much senior level.
So I guess they are what they say they are, it all depends on the quality of their work.
You should be fine if your work is above average quality.
It's OK to meet the standards of the job and not strive for greatness at your day job. The corporation you work for will not care.
When you have a ratio of job seekers of 2000:1 applying for and getting an offer for a tech job, and given the OP is talking about top level / top salary devs.
1000% yes for above average quality.
If not, then working in tech is not for you.
It is only going to get worse when AI kills more startups, businesses and employment in the future.