No--I bought an Alvarez Regent 5212 ($150-ish at a pawn shop, which was not a bargain) and get compliments all the time. Seriously.

I once fell in love with a mid-1930's Martin 0-18 (slightly larger than a ukelele, but it sounded like a cello). I didn't have $1500 and couldn't have justified it, anyway, since I'm at best a marginal guitarist. I don't know if I would have liked playing it even if I had been able to afford it so it's probably a good thing that my instrument budget runs to kazoos and whistle-pops. But it sure sounded great . . .