How far does a US dollar go in Thailand?

I'm curious to know, just how far can a US dollar take you in Thailand? Are prices generally affordable, or do travelers need to be cautious with their spending? Is it feasible to live comfortably on a budget while exploring the country, or is it more of a luxury destination? I'd love to hear some insights on the cost of living and traveling in Thailand, specifically how the US dollar fares against the local currency.