An item can be expensive but be of poor quality, rather than high quality. However, a cheap item is almost always of poor quality. There are occasional exceptions to the cheap item is poor quality, but you have to know how to judge quality.
For instance, I buy Birkenstock sandals. I pay over $100 a pair, but I’m happy with them, because they last and last and last. On the other hand, my husband buys sneakers from WalMart for under $20 a pair, and the pair might last for a year or 18 months. If my pair of sandals lasts for 6 years or more (and I think that the pair I’ve got are over 10 years old) I have spent LESS money on my shoes, per wearing, than my husband has. My initial outlay was greater, but the goods lasted long enough for me to recoup my investment and then some.
However, it’s perfectly possible to spend over $100 on a pair of shoes, and have them develop a hole or otherwise become unwearable in less than a year. And it’s possible (though not likely) to buy a pair of shoes for under $20 and have them last longer than 6 years.
Well, I had a great one. It would turn inside out, but then you could turn it back, and it was fine.*
Too bad I let it on the bus.
OTOH I once asked the bus driver if he’d found a red umbrella (different umbrella, different bus) and got one that was way better than the one I’d left.
ETA: It was not a GustBuster, but neither was it a $5 umbrella