Okay....first, lemme clarify that I'm a 1911 nut!
I have NO issue with folks preferring a less-expensive gun, but just as some folks buy a car to go from Point A to Point B, others want to drive in style.....
I'm somewhat known in the 1911 community, and am often asked for my opinion on different 1911's. I won't comment on 'em unless I own them, and as a result have owned a number of the "budget" 1911's over the years. With the exception of the Star line (which, IMO, isn't a true 1911), I've not tested any of them that I'd classify as "junk", and I've run everything from a Tisas to a half-dozen others that were sub-$500.
Just as you can't compare a "rat-rod" to a true classic "hot rod", trying to compare budget 1911's encompasses more than accuracy. Small details such as fit/finish play a large role in evaluation -
but the impact will depend on the end user. I'm currently in the end stages of a 100% custom build from a local shop (the owner impressed me enough that I have actually partnered with him), where each and every component has been built to my specification. We spent quite a bit of time selecting the frame and slide, etc. - even down to the trigger itself.
That kind of detail deserved a finish befitting the build - so a highly polished blued gun (in the old, Colt-style deep blue) will be the crowing completion. Every aspect of the guns' exterior will have this polished finish, which equates to over 8 hours in polishing alone. That polishing (and bluing) equates to the cost of some of the budget 1911's out there - but for me, it's worth it. This will be as much of a work of art as a firearm - but it's one that will be carried and shot (I carry daily). Part of my reasoning is simply that I love the platform - the other is that I want a 100% reliable gun.
Frankly, there are a number of budget 1911's that I like - some are even in my collection. There's always a need for a sidearm that you can use and abuse, and not be overly worried about damaging its' cosmetic appearance - but you aren't going to get the finely-tuned feel of a
quality 1911 without putting in a LOT of custom work or spending hours of your own time polishing and fitting. Small things - like lapping the slide to the frame to get a REALLY smooth fit - takes time. It's not a matter of slapping it on a mill, it's taking fine lapping compound and working the action to properly mate the surfaces to each other. That alone can take many hours - and most folks won't bother with it (nor is it necessary to make the gun operate "well enough").
So......the above is an overly-verbose way of saying that (in most instances) premier guns ARE worth the extra cost, just as a customized car is to certain folks, but I'll be the first one to say that they're a nicety, NOT a necessity!