I find the opposite with some hobbies. If you buy a cheap acoustic guitar it’s going to be horrible to play and will probably sound crap. That might discourage you from continuing. More expensive guitars have a much better resale value too, so you’d probably be out of pocket for less if you buy a nice one and sell it again than if you bought a crap one and no one else wanted to buy it.
To counter this I used to visit some factories for a big contract manufacturer in the UK. They would often make say lasagne for the supermarkets and for the “premium” brands. Whilst they were all made in the same place, the “premium” brands products had much better quality ingredients in them and different ratios of the good stuff (say meat) to filler (say pasta sheets).
For some things it’s the exact same materials, but for many it’s different. You have to do blind taste tests to see which ones you prefer.