Patagonia also isn't particularly high quality (I own dozens of their clothes because I like their environmental activism, but many fray out of the bag, fit poorly, have crappy zippers, etc.). Arcteryx and European brands often make much higher quality clothing. Patagonia's on par with REI store brand clothing, IMO. But at least now they're wholly owned by a nonprofit!
I'm not sure any company can avoid this fate long term if they need to keep growing.
And these days, with everything from electronics to materials science to coatings to additives all changing so fast, maybe fast and cheap and easily replaceable is just what the market bears, for consumer and manufacturer alike?