Snobbishness. Everyone knows that you can buy HT pedals for £40 from superstar. That makes them a value brand.
Straitline, point1 etc only make premium kit with no cheap alternatives. People will spend the money on them (evidently).
Why not? Dia-Comp were a cheep parts manufacturer, that made a few expensive bits under the Cane Creek name, a management buy out and now people will buy £500 suspension bits from a budget parts manufacturer.
The Tiawanese might be cheep, but you'd be stupid to write them off as stupid, they can see where the money is and it's in the branding, whther they get that by badgeing up compnents and selling through existing brands (DMR, superstar, On-One) or going it alone and building their own brand.
Merrida built Specialized bikes, then eventualy bough a big stake in them.
Giant build frames for tens of other brands, and sell their own branded stuff as well.
KMC makes shimano's chains. But there's plenty of people who will hand on heart tell you they wont touch shimano chains as they snap and wont look at anythig other than KMC.