Not talking about how many pieces really. Go to a store, pick up a Squier with a maple board and a MIM Fender with a maple board and just inspect them closely. The cut of maple on the Fender is a much better quality, and its noticeable even from a distance, much less looking at them up close. Same with the $299 Sterling StingRay 4 with a maple board I had. These cheaper, Indonesian made basses don't use near as good a quality of wood. Not to mention the difference between alder and basswood or agathis is big too.
Ive never kept stock Squire pickups aside from the J. Mascis Jazzmaster, but that's an exceptional guitar and out of the norm. Also swapped all the electronics because everything is cheap on the Squires. How many Squier basses or guitars do you see from the 90s still being sold? I never see any because they aren't built to last that long. I see plenty MIM Fenders from 20-25 years ago up for sale though.
But again, its a personal thing and no one can decide what's right for you. If you don't mind the cheaper woods, electronics, hardware and overall build quality and you like the way a Squier sounds and plays, than that's great and nothing wrong with that. Ive owned several Squiers in the past and may again one day. I just don't think the current pricing is a big enough gap to justify the lower end bass unless you are in a country where Fender prices are ridiculous.