I have to agree that there's some inconsistencies with Fender. You can pull ten basses from the wall (if the wall is sufficiently stocked) and find a Fender that has all the characteristics one is looking for, and could ever hope for - at a price. However, there are always seven or eight 'Meh!' basses there - for the same price. Those seven or eight may play "okay" and sound "okay," but in my experience you really have to dig to find the 'Buttah' basses. Soundwise too.
Someone said above that Fender are consistent, but trees are not. Given sixty years of experience they should be able to audit their stock to find the consistencies, so I don't accept that as a valid argument. A luthier of any note may find the right wood that is ultimately correct for the job at hand. In mass production there should be no difference. Otherwise, these Fender basses have no merit as consistently fabulous, and should not merit the prices charged. Sure there is some consistency with the hardware, electronics, and set up, but that doesn't always give you amazing instruments. Some of the lesser marques have inferior hardware and set up, yet consistently produce good instruments. Why can't Fender do the same. Sure, there are 'dogs' in the lesser brands, but these are not $1500.
I'm no Fender hater, but I pretty sure not every MIA Fender is a first round pick. I've played a lot of Fenders over the years. I've played MIA, CIJ, MIM, and Squier. I've played vintage instruments, and I've played new. They are not all created equal. Why did my buddy's MIA Vintage 57 need a new neck? That's a valuable instrument, yet it's neck warped like crazy. Why do some experienced and professional bassists have a Squier in their arsenal? Because they found a good bass. Why can't you find an early (pre-lawsuit..) Tokai? Because they are good instruments and nobody is letting go.
People will rave about their '74 or whatever, but I'll bet the '75 was a dog. I'm not tagging all basses from certain years as bad, but simply illustrating that there are good and bad Fenders. Don't tar them all with the same brush. A lot are great, but there's just as many (if not more) that are less spectacular.