Very true. Two other things are happening.
1. The whitelabeled junk is getting very good. In some categories, the brand name stuff has degraded to the point that the aliexpress version is better and cheaper.
2. The IoTification of everything means that a lot of traditionally long lasting items are as durable as their WiFi board - i.e. not very. This also plays into number (1) - where cheap, Chinese, items either lack IoT features or provide them only locally instead of requiring an online account.