My firsthand experience with Squier in the 90s has left a lasting bad taste in my mouth. Squiers are made with the absolute lowest quality of wood and metal and labor, so Fender can still make a profit on them after shipping them over the ocean. I will never, never spend money on a cheap import bass ever again. Quality is worth it.
If Squier is truly made with the "lowest quality" materials...then I guess the "quality" of materials has nothing to do with how good the bass is!
I routinely find and play Squiers that blow away more expensive basses. If they're made out of cheap stuff, then I guess I like cheap stuff.