Most of the Craftsman tools I used in the 80s - I still have. A little worn and dirty, but still good. Almost all, of course, hand tools.
I'm very much of the belief if you need a tool you intend to use a lot over a long period of time - get the best you can reasonably afford.
Don't ever buy anything so cheap it might not last more than a couple uses, although OCCASIONALLY I will break this rule if it is cheaper to do that way.
But anything you intend for short term use or very sporadic use - buy the cheapest tool that you believe will do the job.
I don't see this as wisdom, but ROI basic knowledge. Think of it as "cost per USE".