I heard it argued that Germany didn't have the raw resources and production capacity to go for quantity. Especially later in the war. So quality it was.
IMHO, the Soviets alone could have eventually defeated Germany, thought at much greater cost (as if over 20m casualties wasn't already incredible).
But the Nazis self-sabotaged constantly. The Panzer IV and the Stug III (with the outdated Panzer III chassis) were arguably the closest standard for armor, but they were constantly diverting effort to alternative platforms that were too complex to mass produce and maintain. And the same for other weapons.