It's a great theory, though it doesn't seem as accurate nowadays. Now, even supposedly 'high-end' brands will be low-quality garbage hollowed out by private equity firms or other corporate acquisitions.

We're not in a world where you can necessarily choose between quality at a high price and disposable junk at a low price, we're in a world where you're often choosing between disposable junk at a low price and rebadged junk sold at a premium one.