Earlier quoted context omitted.
I think that scenario may be why so many people have a hatred for value engineering: once cheaper becomes available, the market bifurcates into value-engineered wares for people who don’t care and the high-quality end becomes higher quality and three times the price it used to be. The choices of other customers deny you the continued availability of the optimal price+feature set for your needs & budget.
Yes, we hate value engineering because of this bifurcation (it's real, and I've been whining about it for a while too). But I see it somewhat differently than you described: > value-engineered wares for people who don’t care You say it like there is a choice involved here. There isn't. This is something that needs repeating - customers choose out of what's available on the market, not out of the space of all possible…
And I’m not saying this sarcastically, many wildly successful businesses have been built on finding untapped markets that established players have missed. There is always room for improvement. The question is whether that improvement is strong enough to change people’s buying decisions.