Do realize that $700 is almost 3 times less than $2000. And obviously a $2000 instrument will not be three times better of an instrument. That's just not how quality-to-price ratio operates in almost anything, there'll be diminishing returns. But considering the state of the industry, I'm pretty sure that if one cannot service their instruments themselves, about $700 is the the best spot to get basically a perfect, still cost effective to some extent, instrument out of the box, that needs no additional work whatsoever, if you go the route of Ibanez or Yamaha, for example. If you can service and upgrade your instruments by your own tools, skill and knowledge, then you can polish a much worse instrument to a much higher level. Unless it has obvious structural flaws of some sort, obviously, but most modern instruments just don't. Even Chinese quality control has gone up drastically over the years.
My time is apparently worth less than the time of people who make instruments in the US, so buying cheaper instruments and upgrading them myself brings way more value than investing into super expensive instruments where I'd pay for additional QC done in the first world country, which I can just correct for myself given a bit of time.