The reality ... in my opinion, 65% of the time, ya get what ya pay for.
Most of the remaining 35% you get less than what you paid for and the remaining fraction means you got real lucky or more than you paid for.
That being said, a superb purposed mowing machine will set most of us back at least 4000 - 6000 for new unit. This price commands longevity, performance, safety, durability and ease of operation.
Mostly, ya do get what ya pay for and 1500 will get you a machine that bites into the criteria listed above.