Not necessarily. It would be nice to think of this as a standard RPG where xp is based on the difficulty of the opponent. In reality however, each wave of creeps represents an amount of xp and gold the opponents get, as well as the pluses of having additional units in your attack waves. It is a steady constant stream for the most part, thus you should treat it like one.
The important part is to balance the effectiveness of the unit, to how much gold/xp they give the opponents. For instance, catapults have classically won on that balance beam because of how effective they are at ending a game, even without much DG help. Priests and angels don't do this nearly so well, so it makes sense they give significantly less gold and XP than a catapult does.
And lastly, the idea that upgrades should have strategic use... this is true. Keep in mind that other than just the gold cost itself, there is also the opportunity cost of not getting something else. Same way getting a point in Fireball has the drawback of you NOT having gotten a point in Circle of Fire. That is generally all the cost you should need.