This is just confirmation of something I always suspected, but...
I was doing a project for my son and needed a chisel for a few cuts in oak - about 32 3/4"x3/8" paring cuts. Since I was 1200 miles away from my shop and didn't want to duplicate it for a small project, I decided to buy a DeWalt chisel at the local big box home improvement store. I also bought a DMT foldable medium/fine sharpener, and a couple of sheets of 2000 grit sandpaper to sharpen it.
First I sharpened it by flattening the back, keeping the primary bevel that it came with, and honing the edge to a slightly higher secondary bevel. After sharpening it, I made 12 or so cuts and realized that the chisel wasn't cutting very well. Sure enough the edge had rounded over (to the back side) just enough to start tearing the grain. I fixed that, just to see the same thing after the next 12 or so cuts. So I sharpened it again and finished off the project, then sharpened it again just to leave it sharp.
I'm not sure why anyone would find a chisel like that useful, except perhaps for rough chopping in soft construction lumber, or maybe opening paint cans.
At any rate, it was validation that spending money on good chisels is well worth it.
I was in Concord, CA (the north bay area). I could have gone to Hida tools in Oakland and been sure of getting a much better chisel for $45, but that would have been a 2-3 hour excursion. I found a cheap Rockler branded chisel for $14 after I bought the DeWalt. I probably would have bought that if I'd gone there first. That was the first time I'd seen the Rockler chisels, and have no idea what they are like. Or I could have bought 2 Cherries at Rockler for $35.00, but I don't like the way that 2 Cherries polishes their chisels. Other stores that carry good hand tools looked too far away. So the DeWalt did a good job, but only with excessive sharpening. Since the project was a simple one, the frustration level wasn't too high. I left it with my son for the next time I visit and do a project.