What is Important?
Good question not really addressed by the initial posting.
A $1600.00 rifle IS worth more than a $300.00 rifle IF one values the qualities represented by the 1600 bucks. (This is assuming both prices are in current dollar terms.)
For instance, a rifle built strictly for accuracy, costing more due to more care in building the rifle for accuracy will be more accurate - generally - than a 'cheap' rifle built for accuracy.
However, should one place value on wealth and status, then one spends one's money on really smooth and lustrous finish, expensive wood and a really sexy caliber.
I don't have much desire and no need to mount a light, a bayonet, lensatic compass, night vision device, hydrostatic thermiometer or such to any of my rifles. Nor does the ability to fire sixty rounds in one minute inspire my lust.
Other folks may find a 'need' for such things. I'm not their daddy or the Pope; I don't make decisions for others.
Some people just want a reliable rifle, requiring little maintenance that will kill a deer once a year. Usually the deer isn't more than one hundred yards away. In between deer hunts, the rifle will probably set in a closet or in the rafters of the garage. Probably a less expensive rifle will serve.
And don't confuse a rifle which cost "only" $125.00 - in 1960 - with a rifle costing $500.00 today. Feel free to work out the inflation yourself.