Yes. While the pricetag is much more approachable today, it was fully intended to be a tax way outside of the reach of most when it was initially added.
It still to this day functions to artificially inflate prices on NFA items, including suppressors, and requires the surrendering of one's 4th Amendment rights by demanding significant personal information including fingerprints if one wants to acquire these items.
This, as well, is on top of the significant delay when receiving the ATF approval for said supposed tax stamp, which has the potential to be denied without any explanation. If you are fortunate it will only take 6 months, and there is simply no reason for this.
It's clear that this process is not a simple taxation as you might find on cigarettes, but explicitly a means of regulating these items.
This is doubly apparent when we see that the penalty for not getting this tax stamp is a felony, guaranteeing you lose your 2nd Amendment rights in some cases solely for the "constructive intent", which obviously is a purely subjective item wherein the mere possession of a short barrel which could be built into your AR could be argued sufficient.
The NFA as a whole is, by enforcement, defense, and initial argumentation, a restriction of the 2nd Amendment in the guise of a commerce clause. If it wasn't, there'd be no need to get people's finger prints when paying a tax, there'd be no need to worry about "constructive intent", and there'd be no need to slap offenders with a felony instead of a hefty fine as we do typically when people fail to pay taxes.