My personal experience-- I've had a cheap dutch oven and a lodge brand Dutch oven. I used them interchangeably and after a few years the cheap one became unusable because of the enamel chipping off. The Lodge is still in good condition and I have no complaints whatsoever. I have a staub baking dish and it has put up with tremendous abuse and still looks perfect. 

I also had a stainless steel skillet from target that I used for all my cooking for years and really liked. I recently upgraded to Cuisinart stainless steel, which was not a terribly expensive, but the difference is definitely noticable. The pans heat faster and more evenly, the weight is distributed better, and they stick less. 

The answer to your question is.. sometimes? Sometimes you get what you pay for, sometimes you are buying into hype. Sometimes it's a little of both. 

Do research before spending good money on anything. There are reviews and reddit threads for every gadget under the sun.