I think that's very likely, and the inverse square law is a harsh mistress.  It's not like we're deliberately broadcasting as powerful signal as we can into space in as many directions as possible.  Whatever radio signals are inadvertently being broadcast (or "leaking" out) are at very low power, and diminishing dramatically over distance.  So it's not like some alien civilization would suddenly be drowning in our radio signals when they are theoretically within range.  They'd have to be looking for it, with insanely sensitive detectors, IMO.

I think the whole "our radio signals are reaching this far" thing is mostly a theoretical observation, and likely not something with any real implications.

Then again, if we are making assumptions about alien technology, who knows how sensitive it could be, and what might be detected?  If some advanced alien civilization had their own SETI program and had really sophisticated tech, I guess anything is possible.     ... I just don't think it's plausible or likely.

As noted, the Inverse square law is a bitch.

There's also the issue of frequency v. distance, and what can actually leave Earth's ionosphere. Then there's that terrestrial ground-based stations only broadcast to roughly (minus a tad) 180° of sky, and their power is either omnidirectional, or horizontally polarized for terrestrial relievers.

So the "200+ light year diamater sphere of expanding radio broadcasts," besides being weak as fuck, it's blobby and irregular as hell, and besides being nothing remotely optimized for interstellar communication, from any individual point on that sphere, or the later signals flowing outward within it, they're also very random, short duration, & intermittent.

For a civilization with "higher technology" we're discussing something like, a civilization within that 200 light year RF bubble Earth has created, they would need to Dyson swarm their system with ultra sensitive radio recievers and operate them all as a giant interferometer array.

And that begs the question of why they didn't notice Earth was "interesting" with atmospheric biosignatures for robust life, thousands, or millions of years before they started detecting our incredibly faint technosignatures?

Something WE are starting to look for with the JWST... Out to about 1000-1500 light years or so.

The simple answer is because they aren't there.

The "Fermi Paradox" is a terrible shit-tier thought construct. It isn't even a "paradox." It's really just a bunch of faulty epistemological bullshit whining about: "The situation as it just simply is."

If one tries any criteria with some semblance of rigor, instead of useless subjective crap, even just accounting for the vast amount we don't know as variables, or how many important factors there even are as a variable... You may not get "the odds" of there being any technological civilizations around, or how close they are, but you do get n-power law curves that demonstrate with decent rigor,  at least what the "odds of different odds" are.

And the "odds of the odds" all tilt exceptionally high, to the "odds are insanely low."

We may not be truly "alone" in the Universe, but it's extremely likely, like "bet your house, salary, & kids on it"-good that we are almost certainly "functionally alone."

As in, so far away, that if they were an advanced galactic civilization that does Kardashev Scale mega-engineering things so big we could one day see it, the light from their galaxy could have left before the dinosaurs, and still take a few dozen million more to get here. Or, the expansion of the Universe drags us and our light apart that we never ever see each other.

Essentially, to even get halfway decent odds better than 100:1 that we even see very distant technosignatures, humans, or maybe ChatGPT if it kills us all, will need to persist for 500 million/.5 billion years. Or, just uplift whatever pond scum we find more locally, and watch to see how it turns out. Then being verrrry patient, waiting to decide if any: "Hey guys, try banging those rocks..."-type of assistance is needed.

There's no "zoo" and no "dark forest," and while we may indeed extinct ourselves doing something stupid, nothing in the Fermi Paradox points to it being "inevitable." Nor does "answeing the Fermi Paradox" credibly do anything like suggest: "They're already here & .gov is hiding it." As it's all just double-bullshit, built on a foundation of the original Fermi Paradox bullshit.