Yes, but this gets real expensive real fast. What the strategy described above does is it only has you buy quality for the items you use frequently, maximizing your roi

If it's for your profession then that is a whole different animal. I'm talking personal, hobby work. I do some building and repair around the farm, inexpensive power tools have lasted for years. I found I use a few hand tools to point where they were degrading, so I got Klein versions of them, but there majority of the tools in the shed are bargain bin harbor freight.