In my experience, especially as of recently with the rise of amazing mid-techs and customs, it has not.
If anything, it has made me look at the customs I used to own, and wonder if they were worth the cost I paid for them. If I can get damn near perfect Fit and Finish with premium materials at under $500, it makes me realize a lot of the time, I was paying for the name and the fact that custom makers just can't produce in volume, which equates to higher prices.
I have had customs that didn't have perfect blade centering, didn't have "premium" materials, didn't have perfect fit and finish. Meanwhile, I have owned mid-tech's that have had all of those at less than half the cost.
This is not a knock on custom knives at all, I still appreciate them and have a few (one on order, one in for replacement scale), but as time goes on, I will more than likely be selling off expensive pieces to help pay for added life costs and the fact that I feel like I am getting my money's worth out of knives that cost less.