Yup.
Look at the dragon: to hit you need a 16 to hit vs AC, forget about fort. At best, you are looking at needing a 13 (Will). Remember, Solos only get +2 to 3 defenses.
What was I predicting? 0.15*lvl lag. At lvl 30, this is 4.5. From a rough starting point of 50% (you hit slightly better than that at low levels, against even opponents). I nailed it.
How about the dragon's attacks? He needs an 8 (6) to hit vs AC, 4 vs good defenses, misses on a 1 versus non-good defenses. For AC, I predicted a 0.1*lvl=3 shortcoming. Solos get no bonuses to hit. I nailed it. Same with the other defenses (only a larger shortfall).
In conclusion: I nailed it. Against a level even foe, accounting for the +2 to 3 defenses, the party is at a net -7 to 8 relative needed to-hit numbers, and is missing continuously.
Do feats help? Not really. The +2 to F/R/W might get you out of "miss on 1" status. Armor Spec still leaves you very badly off. There isn't much (anything) for to-hits.
Now, at low levels, parties frequently find themselves facing opponents of higher level (very, very frequently). The Dragon, however, is powerful enough *already* that any modifications to his level have a huge effect because he is near the edge effects of needing 20s to hit him. A lvl+2 solo is doable for a lvl 1 party. Here however, the melee types are going to be needing *18*s to hit an advanced to lvl 32 dragon, dropping melee offense by *40%*.
One of the advantages of keeping to-hits near 50% is that you are not overly sensitive to small bonuses. In 4e's Epic tier, the attempt to stay near 50% has failed, and modifying monster levels becomes very, very dangerous.