Anecdotally this rings true with me. I have a 15 year old (at least) Samsonite backpack. It has zero signs of wear and has been on many trips, jammed under my feet in economy or on a dirty train floor. It was relatively expensive at the time at about $120.

It was looking a bit sad and dusty so I upgraded to a fancier looking Bellroy that cost twice as much. When it arrived I instantly knew it was going back. It felt cheap, it looked cheap, and the compartment layout did not feel at all utilitarian.