Yes, and No. Depends. What is a paradise?
Bali is not a paradise like the picture postcards of Maldives or the Bahamas suggest. The beaches of Kuta up to Canggu are quite different and less tropical than one might expect. Mass tourism has left its mark on most places such as Kuta, Seminyak, and even Ubud. There is traffic at times, the trash problem of a developing country is still not completely solved, and there is some crime and scamming going on...that's all not matching the idea of a paradise.
Bali is a paradise, because it is tolerant and inviting and lets you be who you want to be. It has an incredible variety of almost everything any traveler wishes to explore or experience. It offers great value for money, and an art and culture that is unique in this world, authentic, and alive. If you want to leave the mass tourism behind, all you need is a short drive and you will enter a Bali that has almost not changed in decades. There are countless areas and sites that are absolutely remote, quiet and almost untouched, where magnificent nature shows her beauty.
Bali is a paradise because of the whole package it offers, and not because it looks like a "white sandy beach coconut tree postcard" wherever you go.