Kind of looks like it, again from depth standpoint at least, halfway through this season. At worst, the East is pulling relatively even with the West for the first time in a long time (decade?).

As of this morning, the West has 7 teams > .500. Everyone else is at least 4 games under .500, including every NW team outside of OKC.
GS 37-4
SA 36-6
OKC 30-12
LAC 26-14
Mem 23-19
Dal 23-19
Hou 22-20

In the East, the top teams are clearly not at the same level as the top of the West, but there are more teams > .500. I can't recall the last time that was the case this far into a season.
Cle 28-10
Tor 25-15
ATL 24-17
Chi 23-16
Mia 23-18
Det 22-18
Bos 22-19
Ind 22-19
Orl 20-19

Just below this list is Was 19-20 and NYK at 20-22.

Clearly, the top of the West is still very dominant. But the West is much more hollowed out than the East below that. And even GS and SA have dropped games to the East.

The West is still better overall, but the gap is starting to narrow. You aren't going to have an epic 1st round West matchup along the lines of last year's SA/LAC.

It helps that SAS and GSW are eating up all the wins in the West, but I agree it is becoming more balanced.

I would argue both conferences are extremely top heavy this year where in the past only the easy was top heavy. The top 2-3 teams in each conference are much better than the rest.

Yeah, and the difference between Haves and Have Nots is way more pronounced in the West compared to East

The way the West is right now is there are two elite teams that barring injury seem just so likely to meet in the WCF, with one team (OKC) that given a great playoff run could upend one of them. OKC has been playing really well their last 30 games, but the Warriors have deservedly been hogging the headlines.

The Clippers haven't regressed much at all, but they seem like such a distant 4th place right now because the top 3 are so good. The story for those top 3 teams is which one will be healthiest.

The Rockets, Grizzlies and Mavs are currently just playing like first round fodder, with the Rockets likely wearing the title of "Team you least likely want to play in the first round". I think this year's playoffs will be snoozers in the first round, followed by two really good rounds of playoffs.

In the past few seasons, there had been some pretty heated competition for 8th place but...
Portland's been dismantled.
Jazz have really disappointed, but not as much as the Pelicans.

Maybe the Sac Kings will surge the 2nd half of the season, or the Nuggets will surprise?

The East is still Lebron and a bunch of trash that can't compete with him.

The West has 3 teams that would take the Cavs down. The East has 0.

The East has gone from bad to mediocre for the first time since maybe 96-97. But the West is still better, team for team. And it still isn't that close to me.

I agree Cavs are the best, but the Raptors and Bulls are both good enough to take them to 7 with a little luck.

I think the Cavs are coasting and that the French put up a better fight against Hitler than ATL, TOR, or CHI will be able to against Lebron.

Spurs are on pace for 70 wins. GSW is on pace for 74 wins.

Then OKC is having what would normally be a great season - on pace for 58 wins.

Clippers on pace for 53 wins.

No one else in the west is on pace for 50 wins. Memphis is next at almost 46.

While the East has more teams over .500, only the Cavs and Raptors are on pace for over 50 wins.

We could have a sub-500 playoff team in the west this year and not in the East. That hasn't happened in YEARS. It's weird because I believe the West vs. East cross conference record still favors the West right now.

The Rockets, Grizzlies and Pelicans have really disappointed. The Suns have imploded. The Jazz lost Exum to injury. The Blazers lost 3/5 of their starters to free agency. And the TWolves are just a little too young still. I think we had such heated competition last year just to make the playoffs that it caused all these teams to take some chances that haven't panned out. Houston obviously has lost all semblance of chemistry.

Meanwhile, in the East it seems like everyone just got a little bit better except Washington and Atlanta. I thought the Bulls had the best chance to challenge the Cavs but now Noah is out. I could see Toronto or Miami making it close but it would be a major upset. And then any of those teams would get smoked by the big 3 out west.