The fish don't know if the angler is using a K-Mart special or a G-Loomis GLX. If a bait is presented correctly they'll eat it.

That said, a VW Bug will get you around the track at Daytona. It just won't do it at 250 miles per hour! (If that makes any sense to you)

Many of the inexpensive rods are made overseas. That's part of the reason they're so cheap. Obviously components are too. My main problem with these rods is how they are constructed. And some high end rods aren't immune. Short cuts are still taken to reduce production costs.
I believe if you want to spend $300 on a rod, you should find a custom rod builder you trust and get it done right.

Chris