Depends on how you define "quality". Function-wise I've never had the knife fail on me yet. Though I suspect if it ever did I would not be able to type about it with missing fingers. The fact that the linerlock slides back and forth between the tang when I push against the spine is not a point in its favor.
Emerson himself says that fit and finish is not the focus of his knives. When you consider the difference between knives with similar materials(titanium, G10, blade steel), to me, the deal breaker is the fit and finish. If not that, then the steel at least should have a superior heat treatment(Strider knives with Bos S30V recipe heat treatment). Given the number of times that 154CM has chipped on me, I don't think that's going to be a good selling point.
General quality wise, Benchmade and Spyderco would be better. You might be happier with a Hogue EX-01 Tanto folder for the same price.