That’s my understanding. The wrapper needs to be pretty and costs more. Maybe some cigar expert here will correct me
Yeah I'm definitely no expert but from what I understand that's sort of right sort of not... I think the binder generally has to be a specific type of leaf that is different for construction purposes... the wrapper leaves are supposedly special and lend alot to a cigars flavor (I'm not a roller so can't try my own customs to compare but this is what I've read numerous places from those who do.) This is why some of the growers that specialize in wrappers like fuente are so revered (growing wrappers for many others than just their own)
Now there definitely are lots of wrapper leaves that don't make the grade for appearance etc which are just used as filler, like you said. But in general it's the wrapper being quoted for the "type" of cigar and its flavor profile.
End of the day though, I'd say with prices like that (again, Grade A wrapper leaves being cheaper per lb than most bulk value pipe blends) who really cares if you're paying a bit more than you could be if it allows you to dial in the exact flavor profile of premium smoke you crave? That's my thought process anyway.
Generally I find most cigar blends I've tried to be like "pipe but with a hint of cigar" so while I haven't tried it personally I figure that 100% wrapper (or maybe cut with just some latakia or DFK like Sig said) would possibly be the best shot at that "all cigar" type flavor...
But again, I freely admit I am no expert and only using logic to deduce things to the best of my research lol