You need to state why you don't think the opportunity is of equal or better value than your current position and see what the recruiter says in response. Recruiters shouldn't pressure you into interviewing for a position that isn't right for you. Look at the job content itself, not just its title. Determine whether the position is open because of tactical needs, such as unfilled contracts and unmet deliverables, or because the organization is changing its business model and needs to make strategic decisions. Decide where you would fit.
Job titles change.
Geography can change. Remember that job specifications are written in the abstract. They're a wish list. Keep the wish-list perspective in mind when reading job ads. On the surface, an advertised position that seems below you may be worth considering.