Price seems to be based a lot more on marketing and brand saturation than quality. And quality brands get bought up all the time and the new company will coast on the brand while outsourcing manufacturing to the lowest bidder.
And you can't trust reviews with affiliate marketing around.
So pretty much the only thing to do to identify quality is to experiment or share info with people you trust.
I've wasted a ton of money on shitty products on the way to identifying quality products.
I'm not even railing against status. I bought a pair of Alan Edmonds specifically for job interviews to signal status but I wear LL Bean shoes and Crocs the rest of the time.
Also, there's other factors besides just durability and status. There's aesthetics, variable utility, ease of replacement, warranty availability, price, etc.
I hate shopping so I think alot about this haha