There's something in almost every Peavey bass amp's midrange that has always bothered me, and I was a Peavey dealer from about 198 until I quit retail in '88. If you're used to the SWR mid-scoop sound, it's going to be really hard to like what Peavey's generally sound like with their midrange honk. But that's not about sound quality, that's about subjective preferences. It's great stuff if you like how it sounds. Me, I've never played an SWR that sounded good to me, and I don't like Ampegs either. But that doesn't give me grounds to say they're low quality in any way.
I do respect Hartley Peavey for driving changes in the music biz. He was the first US manufacturer (and the first major MI manufacturer) to go to automatic insertion of components on circuit boards. While Fender, Tapco, et. al. were having people sit with needle-nose pliers and a soldering iron to insert parts into the board, Peavey invested in machinery to do that and paid his people to do a 100% pre-test of components BEFORE they went into a board. That gave him higher production at reduced cost AND it gave him less re-work and less waste- all which allowed him to drive the price down. Also, he always had the same mark-up on his products. Instead of charging what the market would bear, everything they made had the same mark-up relative to production/development/marketing costs. That also kept his prices down.
The stuff has always been well made, and if you agree with the design choices they make it's wonderful gear. If you don't agree, then it's just not for you. I loved the original EQ centers on the old TKO-65, the Centurion head, and the Pro-Bass 1000 pre-amp. The TNT-130, the Mk IV, and the Max pre-amp had different EQ centers and never sounded as good to me. But they were just as well made and very useful and laudable gear.
John