Caliper wont contribute to braking performance. All it does is clamp the pads onto the disk. The pad doesn’t know or care what caliper is applying the force to it, all it knows is how much force is being applied. In combination with the lever it will affect how the braking feels to the rider who will then interpret in a subjective way if the new caliper is better performing than the old caliper or not. But that is not necessarily to say that how the brake system feels to the rider is unimportant…just the opposite. I suspect the price difference between the callipers in the Shimano range are 3% weight benefit, 30% bling and 67% marketing.
I swapped out the 105 calipers on my road bike with Hope RSX’s. They are 3% lighter, 90% blingier and 7% better performing in conjunction with Hope floating discs and pads which contribute 90% of the 7% performance improvement. As far as feel goes, which is what is important to me, bite feels more positive than the shimano caliper/pad/disk combo, modulation better. Overall a worthwhile ‘upgrade’ but not that much wrong with the previous setup really. Just felt a bit crap to me, but fundamentally did a good job of stopping me when I wanted to stop.