Cost does not necessarily equal quality, especially when you factor in likely conditions of use. You will need an expensive tent for a trip to Denali or the Himalayas, but something much cheaper (and lighter) will suffice for the Appalachian Trail in the summer. Expensive gear will not compensate for the lack of skills, judgment, and ability.

AFLM's gear reminds me of my first 'real" sleeping bag, a US Army surplus mountain bag, also down and feathers. It was cheap, warm, and rather heavy, but it kept me in good shape over several sub-zero nights. Using it made me appreciate the equally warm and much lighter bag I purchased later, a bag that lasted me for twenty years until it was stolen. Army surplus is often quite good, but just a tad bit heavy.

When considering the true cost of an item, you need to factor in its projected useful life. I have lots of items that are more than twenty-five years old and still going strong. The champion is an Army Mountain cook set, with a date of 1951. It is still as good as ever - its only problem is that it is bigger than I need most of the time.