Erm
diff people diff perspectives
theory #1 : wats expensive may not be good, wats good may not be expensive
theory #2 : expensive = good, inexpensive = not so good
So yupsie. i feel that as long as the components of the guitars are good, whether branded or not, it doesnt matter. Brands usually come into the pic when people starts to compare their status
Example
Boy 1: "I just bought a Gibson Les Paul Custom today. What abt you?"
Boy 2: "I'm hanging on a TGM Strat."
Boy 1: "Do you think the sound of the Gibson is good as compared to your TGM?"
Boy 2: "Maybe, I don't know."
Boy 1: "How much is your guitar?"
Boy 2: "I bought it for $100."
Boy 1: "Oh. Mine cost $1000."
So in the above example u can see that people also use guitars as a gauge for personal status too, as with cars & other personal possessions.