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Work in forestry, and work with quite a few old timers as well. Most people who are extremely experienced IMO end up with mid-to-upper-mid-range stuff, with a few high end things in there. I don't buy ultralight or super expensive gucci bullshit but there are definitely items I've spent a lot of money on.
And the cheap WalMart/hardware store shit you're talking about 100% would not hold up to the kind of use and abuse people who live innawoods for a living put it through.
You want stuff that's expensive enough to be quality, but inexpensive enough that you don't baby it.