I have to admit that I'm one of those people who just wears a Timex watch instead of something much more high-end. I guess for me, as long as my watch tells me what time it is accurately, I don't really care otherwise.
In my life I've bought POS knives and quality. The POS's were bought mostly in the '70s as a teen, but I bought one POS just 5 years ago, as my very first one-hander because I thought $40 for a Delica at the sporting goods store was too much. The "knife" I got instead was an "eagle" Delica knockoff. Even at that time, as I was getting back into knives after a near 15-year buying hiatus, I could never bring myself to carry the thing. Now, although I have no plans to buy custom, I own mostly Benchmade, Spyderco, Emerson, SOG, Kershaw, etc., for "tacticals;" and went back to lots of V-nox, Buck, Camillus, etc., for "traditionals." SOmeday I may get myself a Chris Reeve standard Sebenza.
I guess it comes down to what you value. Some people get along fine with POS knives, just as some people are fine buying POS shoes. I realized in recent years I have to buy quality in shoes and boots as well, as POS shoes, even in the right size, can cause foot problems. I generally try to purchase the quality or name brand of things, but due to my interests/values, the range of quality will vary depending on what things they are (i.e., shoes, knives, jeans, watches, flashlights, etc., etc.).
Jim