It's funny how almost all of the low-end Private Reserve guitars are Paul Reed Smith models. I don't know, I guess funny to me because I think of PRS guitars as high-end.
I've never spent more than $700 on a guitar and that was a used Godin that Guitar Center ripped me off on...one of those days that I wish I could do over, but whatever...and I tend to look for great deals on workhorse guitars.
My newest Gibson LPJ cost less than $500 brand new. No, it's not as pretty as a AAA-top Les Paul Standard, but it looks nice, plays nice and sounds nice to me and didn't cost as much as a functional used car.
Yeah, no sweat to those who can afford to shop in that realm; more power to them.
As long as God keeps me financially humble (yet very blessed) I'll keep buying the bargain guitars.