It's a trade off, but the way I see it mostly the consumer is losing.
Some things are indeed more accessible and generally much higher quality relative to the price (tools/welders, guitars, electronics).
Not counting the highest end stuff (always statistical outliers):
Mechanic tools, power tools, specialty stuff (like welders), have all generally gotten better., cheaper, and much more accessible! though I doubt any of them will have the durability for 15+ years of constant use.
On the other hand things like precision tools (starret), car parts, clothing/shoes, hardware, have generally all gone "5 steps down in quality and 2 steps down in price".
Try buying some non oem car parts (ball joints!), a pair of jeans that lasts over a year, a couch or a washing machine/appliance that lasts.