I learned something interesting with the 50's rock band I was in. I have a couple of Shure Beta SM58's. I always use my own mic. But the rest of the band was a family and not very well off. They had purchased one of those "four mics, cords and stands for a hundred bucks" deals
(I believe they are audix mics). I could not believe they did that. It seemed as atrocious to me as it would to you. Well, almost. I think my inner cheapskate has more control over me than yours does over you.
Anyway, one day I didn't bother to bring mine (long story) so I just used one of theirs. Honestly, for live, there was not really any difference that was immediately apparent. Not feedback, not boominess. Even dynamics sounded not bad. They "pretty much" sounded like the Shure. But this was live, of course. And that's the thing. When subtle differences are getting drowned out in the mix and the club acoustics, sometimes a certain quality is "good enough" as in, you sort of reach a point of diminishing returns on your money.
I'm still too much of a mic snot to use Audix, though.
But I really learned a lesson with those headphones. It was a major paradigm shift for me. It harkens back to the 70's when I sold Pioneer stereos just as they were getting "good" but were still pretty cheap. They were a steal for what we sold them for. That did end, of course.
But it also reminds me of the basses you can get on Rondomusic. five to ten times cheaper than the competition and yet almost as good. Sometimes just as good. Manufacturing is going through a major paradigm shift these days. Just as Japanese made used to mean cheap, and then it became "cheap and good", and finally "good", the chinese may be following the same path. Time will tell.
I'm not too worried about sending manufacturing jobs to China these days for the simple reason that the day is soon coming that manufacturing does not really mean jobs. Machines will to it ALL. Then the country with the best tax environment will be the one producing the stuff. But don't ask me where we're gonna get the money to buy anything without jobs.