Not necesarily. When I worked at the junkyard, I saw a W124 260E that had 327,000 miles on it and was at the yard because it had been rolled. I also saw a few Honda, Toyota, Subaru, and Ford Crown Victoria cars with that kind of mileage (and one Chevy Cavalier with 341k).

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Whoever said there's nothing more expensive than a cheap Mercedes never had a cheap Jaguar.

83 300D Turbo with manual conversion, early W126 vented front rotors and H4 headlights 401,xxx miles
08 Suzuki GSX-R600 M4 Slip-on 26,xxx miles
88 Jaguar XJS V12 94,xxx miles. Work in progress.
99 Mazda Miata 183,xxx miles.