If you only care about the sound, according to a single youtuber.

Other things one might care about:

- Ergonomics: weight, balance, shape of the neck & body, finishes all affect the feel of playing the guitar

- Build quality: Reliability, stability of the wood, ease of setup

- Durability: Quality of finishes, quality of assembly

- Aesthetics

Well, the pickups and a few other things (like having volume controls), but yeah. That was a fun watch and confirmed much of what I had previously suspected.

But to be fair, overall quality involves more than just sound. The big one for me is, how long will it stay in tune? And in general, have good action, be solid and hold together over the years? Tuned strings create quite a lot of static force which becomes dynamic when you play it. Some uber-cheap bass guitars I played never had a hope. Wouldn't stay in tune and action was all wonky and couldn't be corrected for, even with kludges like shims in various places.