32k context is absolutely huge. There's all sorts of techniques for summarizing large documents down to get into 4k right now with 3.5, but it's incredibly lossy.

But boy, not cheap at all - $2 per api call on a 32k token document + whatever the output.

gpt-3.5-turbo is going to be around for a long time. At this price, your use case is going to need to be replacing a large cost center. Which based on their released results on common benchmarks, is absolutely going to happen.