Suppose we could determine the "true" value of every company in the market. If the price at peak was greater than the true value, and the price now is the true

Suppose we could determine the "true" value of every company in the market. If the price at peak was greater than the true value, and the price now is the true value, then do you still call it a "recovery?" When you account for inflation, the price of stocks hasn't gone up all that much since 2020. I think most casual observers forget this analysis.