I'm not going to say that AP courses match college level - they do not. My middle kid is taking AP Bio this year, and while she loves the teacher, she is disappointed with the coursework. She knows it is not college level. She even attended a 200 level course (just one class) at a nearby college and was disappointed. This is a well known, highly regarded school, and she was still disappointed by the level.

AP courses are good for getting credit in college. My eldest is debating graduating early, or doing two majors in four years - all thanks to AP credits. The credit give the kid options when they get to college.