There's a kind of experience only collectors and knife knuts have when you can hold in your hand a crap knife and a good knife at the same time and compare. If you've never had a knife fail on you and all you've bought are cheap knives, why get anything else? And I say, "cheap" being someone who has a decent collection and only one or two in the $100 range, mostly being less expensive Kershaw and CRKT knives. But I started collecting traditionals, and when you have a "new" Remington with huge gaps between the back springs and the blade isn't flush when open and compare it to a GEC where the fit and finish are perfect, NOW you're aware of what the difference can be. Similarly, if you get a Boker Magnum with a paper thin linerlock that doesn't fully deploy and the edge looks like it was honed with a chainsaw and the handles are 1/8" from the bolster and compare it to a Kershaw Launch or about any CRKT or Kershaw (USA, Chinese or whatever) you can tell the difference. But only someone who has held both is going to know what to look for, if it even matters to them.
I just cut paper and fruit, but I wanted a defensive weapon just in case, so I carry my Otanoshi or Hissatsu (or Launch or whatever). I've never even considered a Benchmade or CRK because these do what I need them to do. I'd LIKE to get a Protech Godfather 921 because I've heard about the specs and they look great, but I don't NEED one and spending over $100 on something I have 60 - 70 of already is a luxury. Next week I may carry a Fossil or Nirk Tighe or Shallot or Cryo 2 or whatever. Variety is the spice of life. They aren't $10 Chinese knives, but they aren't $500 Chris Reeve knives either and they're fine for me.
On the subject of knives being stolen, I've had one or two stolen in my life. One was a utility jackknife with a Bulldog truck logo on it from my grandfather who's gone now. A co-worker had a Spyderco stolen at a concert. Expensive knife. After much tempting on my part, he ended up getting a Wartech knock-off of a Cryo 2 for $5. I got the real thing for $25 or so and we compared and, honestly, with as much use as he and I would put them through, one was as good as the other, though mine would probably hold an edge better. He thought he HAD to have a Spyderco and the Wartech was just "for now", but he's happy with it and isn't even looking now. He wanted an assisted flipper framelock with metal handles and a solid lockup and that's what he has. Most people don't even know THAT MUCH about what they want.
If I held and compared a $500 knife to one of my $40 knives, maybe I'd notice a difference. So it's very important I DON'T!