cutting paper is a common test for sharpness of knives.
a shave-sharp razor should most certainly be able to cut paper.
however i'm not so certain it's still shave-sharp after the test.

at the end of the day i like to use my razors for shaving, not as box cutters so the tests that are less destructive to the edge are preferable.

but of course everybody has their own opinion of how to do stuff.