Yeah you would. Because a 4.0 is the new 2.0 gpa.
Sadly, this is accurate...although usually only at privileged schools who can afford to offer more AP courses. Some might be shocked to know that AP courses are now often on a six-point scale, so getting a C is equivalent to a 4.0. Honors are often on a 5 point scale. So this incoming class could potentially have a lot of Bs and Cs in their GPAs.
Sad to see the privilege gap continue to widen in education.
Unless things have changed since I was teaching in Florida public schools a decade ago, a decent amount of funding used to be tied to number of kids enrolled in AP classes, not just number/percent passing the test. It benefited both the students and the school to put as many kids as possible in AP seats even if they were severely overmatched by the curriculum and had no possibility of passing and getting the college credit. Also, a lot of seniors realized that the AP scores for senior classes don't come in until AFTER college acceptance letters go out, so just taking the class showed up on the transcript and served their purpose.