This is just my 2 cents
I look at like buying a car,,,they will all get you to A to B but sometimes you want to put out more C for a better one ... to show off to the neighbors or friends ,see what I just got...
it's a build in human thing...
If you drive your car more than 25,000 miles a year you will need to put out more C so it will last 10 years or more, but if you only drive your car 5000 miles a year the lower price car will do the job just fine..and should last 10 years or so...this is true for tools as well...it's like someone buying a 2000.oo table saw when a 400.oo dollar one will do the same job. it's just a motor that spins a round blade..
You missed the other option - second hand. I haven't had a new car in eons but I've only owned Volvos and Mercedes, all of which were 1-2 yrs old when I got them after careful checking.
Many tools came the same way. Starrett, Moore & Wright, Elu, Bosch, Hitachi, De Walt all bought second hand with quality built in, for much less than new.
I've some cheapies too and they are OK for now. Some actually seem quite good and make me wonder whether prices are often used as marketing tools in the manner of, if it's dear it must be good, as I sometimes see similar for a lot more money.
That reminds me. I recently wanted some pipe threading dies for pipe for pipe clamps. I'm not going to be doing them often, so something cheap would do that might be pointless for a tradesman using one every day.
Amazon UK have Silverline sets of 4 dies, die holder etc in a blow moulded case for UKP25 including free shipping within the UK. (I cannot buy a single pipe die down here for that, albeit that we are comparing almost certainly Chinese with German trade quality)
I was showing someone the pipe threading kits on Amazon yesterday and was very struck by the price differences from different traders for what were clearly the same products. Some products with identical illustrations were double that of others. Someone walking into one bricks and mortar shop might reject a product as cheap rubbish but if he had walked first into another one offering the same product for twice the price might have viewed it quite differently. Not everyone buys on the internet where the difference is more obvious. OTOH, we are buying sight unseen, but quality control, for whatever the spec is, has improved in recent years and duds are less common.