To answer the question, no it is not worth the price hike. It’s a four year old model by now and a newer one is probably in the pipeline. I recommend looking for one on sale or Apple refurbished instead.
Also don’t be surprised if the power button on your $60 Siri Remote pops out after a year or so. Easily fixable with scotch tape, but another reason to wait for the next revision or a sale price.
I think it’s a good product for the most part. I just think that Apple should’ve kept the price where it was, and eaten some of the increased parts cost. They make enough money from related subscriptions and the hardware box already has a huge profit margin. It’s not worth what they’re charging at the ridiculously higher new retail price, even for an Apple product.