I firmly believe that many goods like this fall into a cycle.

Existing products are cheaply made and poor quality, so a new company emerges producing a higher quality product. Eventually word gets out and their sales blow up. But to keep their profits going up, they begin to coast and cut corners. Fast forward a decade or two, and now they're the ones making low quality gear, leaving the market open for a new high quality brand.

In short, high quality leads to recognition and growth, and then cutting corners leads to profit.