Binoculars are a great example. Cheap ones are crap. Very expensive ones are superb. Mid-priced ones are the ones you get the real value for. The Cornell Department of Ornithology performed an exhaustive review of binoculars and this is what they discovered: They found cheap ones were just okay, some were usable, others not at all. They discovered binoculars priced from $200-$500 were outstanding. Most telling, though, was that the highest priced binoculars were really not any better than the mid-range ones. They were better, but not by a wide enough margin to make them worth the money. Bird watchers give any binoculars the greatest work-out, their opinions count.
Zeiss was better than a Nikon Monarch, but not twice as good (or three or four or five times better). So, the real "getting what you pay for" happened in the mid-range. Too cheap and you got junk. High end you got good stuff, but not so much better than midrange to justify the costs (beyond bragging rights).
In guns, can anyone tell me that a $2,500 scoped M14 clone is better than a Savage 110? Or, a $5,000 SVD is more accurate than a PSL (I own both the SVD and PSL, and I can tell you the SVD is better, but not that much better).
The midrange is where you get what you pay for. Snap On wrenches really are better than NAPA Professional, but not five times better (and I own both of those, as well).