Yeah, the older Lexuses had a very soft ride to them (well, they did have an air suspension model). For example, the LS400 was designed to compete with the likes of the S class and 7 series which also had somewhat soft rides and the only people that really could afford those were ... older. Just makes sense. I can tell you that the seats in the older LS400 had much much more support than the Buicks of those years (the Buicks were incredibly comfortable, almost like sitting on a couch while driving, but different strokes for different folks). In those years, I would say that Buick had the oldest demographic, followed by Cadillac, then maybe Oldsmobile, Lexus, MB, BMW (I know i'm not adding a few other car makes, but eh).
Although, the industry started to move away from that. In 2000 the IS300 was introduced (suspension was still more luxury oriented but very different from previous lexus). In 2001, the LS430 was introduced and the steering is much more tighter on it and suspension is definitely more firm. Then of course the newer SC (still too floaty for my taste though), GS, and IS all have an improved feel over previous generations. I don't think any of the new Lexus since that time have that floater type suspension anymore. MB, BMW, Cadillac all have more firm suspensions, it's the way the industry is headed.