Olive oil is also frequently rancid. I frequently find packaged nuts and trail mix routinely rancid.
It works just as well except when you want the taste of olive oil. I find it superior when I stir fry things since the smoke point is higher.
One challenge is not knowing how something should taste.
I once got harvest fresh olive oil (as a gift). Wow! Total game changer.
~TLDR~ FYI: The good stuff should make you cough a little bit after you swallow it.
See also: coffee.
We could have better food with fewer preservatives and less processing if the supply chain would pay attention to this problem.