Fender instruments were the low cost mass produced alternatives to the high quality hand made brands of the 50's, like Gibson, Rickenbacker, Gretsch. Fender used materials and construction methods that allowed them to come in at half the price of those counterparts. It was just serendipitous that the instruments and amps sounded good. The speakers, OTOH, were horrible. Unfortunately many of the engineering faux pas of Fender speakers also became part and parcel of a legacy that continues to this day, most unfortunate as they were not worthy of being built in the first place, let alone being copied.