Gretsch, like other brands, sell reasonable quality fairly affordable country / roots / folk instruments.
Probably most originating from the same Far Eastern factories.
Though Gretsch mandos may not be amongst the cheapest of their similar quality kind...

'High-quality instruments' Brand Name snobs can be mislead and seduced probably more than any other musicians...

For instance Gibson have acquired a well deserved reputation for being far too overpriced whilst neglecting acceptable quality control.

Modern Chinese copies of Gibson instruments can be as good, if not better, at a fraction of the price.