This has been an interesting (IMO) conversation/debate over the years. While I tend to agree with you in principle, JamesBro, I also understand (and agree to a certain point) the sentiment JT is expressing.
At the risk of being flamed, I will offer my thoughts (though I do not sell anything....). With any industry or market segment, there is always the risk of someone coming along and selling something cheaper - and it is the buyers who will determine whether the reduction in quality (whatever they view that to be - and it is relative and subject to interpretation) is worth the reduction in price. Just ask the american auto industry (in the 70's) vs. the then new japanese auto makers, or IBM who made big computers and neglected the then-new personal computer industry, or the likes of Control Data Corporation, who made big computer storage disks (like ..... 3 feet across), and ignored the cheap and new smaller (like ... inches across) disks being made by companies like Seagate. In a capitalism based economy this is just the way it is - and none of us are immune to something like this happening. the thing is to adapt, or just do something new.
I once had a conversation with a couple National Geographic photographers, who commented that with the evolution of digital cameras and digital photography, the "old days" of a photographer making a living by traveling and selling their photos were just not doable anymore. Instead, they are now "selling" photography expeditions and photography lessons and tutorials and barely sell any of their own photos. they adapted. I also had the opportunity to meet a person who was quite insistent that her profession was one thing and one thing only, but no one would hire her. No one wanted to buy what she was selling, and she refused to do anything different. I do not think she ever worked again (really sad thing to watch). You could try to "protect" your market by limiting newcomers or eliminating their ability to sell ..... these approaches are called "protectionism", "caste systems", and to an extent "socialism". All of these systems have their disadvantages and downsides ..... as does capitalism. You can lament a "flooded market" - but that is like spitting into the wind.
The only thing I could offer is to comment on the great importance of marketing. Being conscious and persistent in how and where you try to make your wares visible (people have already talked about BF versus Instagram, previously people have spoken about the importance of being visible at trade shows, etc), will likely make a huge difference - as will building a reputation (as many have spoken about before). But these activities have their own cost both in terms of monies and personal work and effort. Anyone who has closely watched someone who is "successful" in a corporation (technical or non-technical, does not matter), or even (and maybe especially) successful university professors, sees that they expend a HUGE amount of their time marketing what they are doing/offering.
Me, personally, I HATE marketing .... one reason I just do not want to even consider moving into selling any knives....
