The game stops being hard after the first half or so. Not a knock on the game itself, you just have so many more options to recover after a bad turn.
So like every single Atlus game right?
I've always felt that they're like bell curves, where your odds for survival are at the lowest point at the start, and then swell up as you acquire more and more demons and skills, and then it starts to drop drastically again for a moment towards the end when the final bosses are designed to have no weaknesses and require inventive use of other stills to survive and inflict enough damage to beat.
I dunno if SMT4 will get harder towards the very end, but right now I do feel that I'm heading towards the "easy" part of the game. I'm 23 hours in, getting out of Roppongi, and being able to reflect both physical and magic is a game changer for bosses. Including Blight, Rapid Needles, or whatever else crap they can throw at me. Lol!