When I was in high school (80s), honors courses were completely different from other courses. Thus, in Honors English, we read more novels and other books that were not generally the same ones the other kids read, and we were expected to write more. So, in 9th grade, we read Great Expectations, The Count of Monte Cristo, and Julius Caesar (this list is not exhaustive). We had to write annual term papers starting in 10th grade (20 pages minimum), as well as shorter papers. That kind of thing. Our books were generally harder to read than the non-Honors material. These courses weren't prerequisites for AP courses. They were completely different courses for more capable students.
Also, at that time, in the two high schools I attended, there was no such thing as "Honors Algebra II" and "Algebra II." Either you took Algebra 2 or you didn't, and the course resembled what's called "Honors" today.
I think it's fine that schools offer easier math classes. What I don't like is that the easier courses are still accepted as being real algebra 2, which they aren't.
