The modern plastics are very cut and dent resistant and are overall much more durable than hickory or ash handles. However, with proper grain, a wooden handle will last for many years and failures are generally the result of hitting the axe handle off of the wood.
The biggest problmem with Buck and Gerber axes, isn't those axes themselves, but the fact that you can buy a Wildlife hatchet from Gransfors Bruks for ~ $55. This hatchet is made from forged spring steel, and sharpened to a high performance edge, which will out cut the vast majority of factory knives, and of course completely out class them chopping.
The GB axe also has the traditional convex,hollow,convex bit profile, which increases penetration while reducing wedging. Most of the low end "pack" axes just have flat primary grinds and edges which will induce binding in woods to a much greater degree. As well the steel is usually not known. I just did a check and turned up such wonderful informative descriptions like "Blade material : hardened steel".
I would assume that you would probably need to reduce the edge angle to about half for a proper wood working profile on such axes, and I severely doubt you are going to get the durability and edge retention of the steel of the GB products.
-Cliff