Not exactly.I saw £1500 for a 3 piece made of Luan. You don't even get US remo heads! Want a snare it's £300 more.
As someone who took a Midtown all over the place, never had any problems and loved the kit I think isn't this kit the same wood, same bearing edges with a different wrap and lugs but about 4 times the price?
For that price you can get a very nice used masters and have a kit for life.
Most entry level kits are now made with poplar, so with luan it’s a limited supply thing.
Luan was used widely in Asia as their new hardwood.
Tama eventually also settled on luan.
If Cope, Beard, etc... were using Imperial stars in 70s early 80s, they seemingly did fine with luan, Tama just hid the luan splints with their “Zola Coat” interior spread.
Luan has since been entirely replaced by poplar. I.e. Midtown, Tama entry levels.
Not sure when or why luan was removed from shell lineup.
I will defer to @harryconway and I’ll go sit on the carpet by my buddies ready to learn