Good question.

I've had identical frames, one with Campy, one with Shimano. The Shimano was smoother of the two (both 8-sp Ergo/STI)

I've had direct competitor bikes by the same brand:
85 Cinelli Centurion Equipe vs. 85 Centurion Prestige.
Cinelli was a better frame, Prestige was a better bike. At the time, they cost about the same.

The Ironman line was a better bike, in my opinion, from '85 to '89, than most Italian bikes costing 1.5x to 2x as much.
That would be true, in my opinion, of many of the "like kind and quality" Japanese bikes of the era, all much cheaper and better overall bikes.

Still, I almost paid $450 for a Bottecchia the other day. By the time I'd parted it out, I'd have had the frame for $225, much more than I'd pay for an Ironman frame. I am not sure how many times I'd have to do that until I'd come to my senses. I think I'm about 2/3 of the way there. That last 1/3 is still infatuated by the ride of some Italian frames.

I've seen SLX-tubed Cilo's with Dura Ace go for $250, about the price of an Ironman.
Conversely, I've seen Paramounts that were half the bike of the Cilo go for twice as much.

I think the hype, aesthetics, scarcity, and the Sophia Loren effect still count.