The parity over the last couple seasons is the best I've seen since I started watching in the early 2000s. There's almost always been 1 or 2 heavy favorites to win their conferences and/or the title, lots of teams expected to repeat, threepeat, etc... And it would be a massive surprise if anything below a 4 seed made a run.
Today, any team that wins a round seems to have a very good chance of taking it all, and that hasn't been the case at basically any other point this century.