The connotation is a lot different even if the reality can converge. A mass market pen I pickup in an office supply store can probably be reasonably described as affordable and good value. It's not as nice as one of the good pens I keep at home but I don't think it's fair to describe as "crap" in most contexts.

Sure, but the statement doesn't change the material aspects of the goods. If it was true then they were crap before, if it was not then they remain in the affordable category afterwards.

Then again, jewelry is to a large extent about perception and not their material properties.