And here the analysis starts to break down, because if you're looking for the characteristics of a great Burgundy, you probably can't source them from California for $20 a bottle; you can get "cheap" French imports in that price range, but the price gap between "acceptable" and "good" is wider. In short: you're not going to get what you don't pay for.
(I'm using Burgundy as an example only because a restaurant blew my mind with one a couple years ago; someone more wine-literate can substitute better examples --- for instance, the same "much larger gap in price between decent and good" may exist for California Bordeaux-style "Meritage" wines).
And should this surprise anyone? Does anyone here think there's low price/quality correlation in beer?