The problem is it’s not really people’s choice. Companies have gotten very good at disguising quality tradoffs and marketing has got very good at muddying the waters.

Since this is about tools, I’ll bring up Craftsman as an example. For many years, it was a quality brand accessible to homeowners. But as they changed to be cheaper they still marketed themselves as a quality brand and they seemed like the same price. It was only after the brand value was destroyed, that it became clear how “cheap” the tools had become and people were able to make a legitimate decision to move on