The quality of work from a machine is dependant on the skill of the operator.
I know of a mini lathe ruined by a careless, to be charitable, operator. Repairs are likely to cost almost as much as a new machine!
Yet there are lots of folk doing fantastic work on them. (Most mini lathes come from a very few factories in China ) So the difference, in many cases is not the machine but the operator.
A skilled operator can produce good work on a mediocre / worn machine. Think of the work that was made on machines that lacked graduated dials, and driven by treadles or overhead lineshafting!