Earlier quoted context omitted.
I think that the blame lies more with us, the consumers. The cheap bad cheese wouldn't last a second in the market if we didn't all rush to buy it, accepting it's failings, but rejoicing in how close it is to the "real" thing and, of course, deriding the original as being "so expensive"
At the margin there are people who don't eat the cheese today because it is too expensive for them. Those people are the ones who benefit from slightly cheaper cheese. On the other side you have those wealthy enough to enjoy as much as the want out of it at its current price. Those would be the losers if quality were to deteriorate.
Edit: I can point to cases of that happening
Ferrari, who couldn't turn a profit so sold to another car manufacturer that created a "profitable" version that, quite frankly, is a shadow on its former glory