It seems really stupid to me. These established companies have made their products indistinguishable from no-name overseas brands but can't match the price. They may temporarily cash their good name for profit but what are they going to do when consumers catch on.
Pair this with the difficulty of finding honest reviews these days and it is impossible to find new quality brands. Not to mention that half of reviewers pick up an object and say "it's heavy so it must be well-made".