> A Rolex and a Timex will both tell you the time. An iPhone and a $129 Android will do mostly similar things. A Toyota Camry and a Porsche will both get you to work.

If your priorities are telling time, having a smartphone, and commuting to work, I agree with you. But I think the more expensive products you mention offer things the cheaper products don't.

For example, I'd rather have a Camry if I needed a family car with a reasonable total cost of ownership. I'd want a Porsche if I wanted a fast & sporty car.

I think stronger examples would be comparing cheap & quality products that both cater to the same market segment. For example, making a cheap car that cuts corners on expensive parts like emissions controls, safety equipment, and stitching in the seats, but making it look & feel like a Camry. Eventually that a line of cheap cars will develop a reputation for being an overpriced junky deathtraps, and no amount of marketing will hide that.