Sorta. Look in an auto junkyard, and you can see the opposite in many cases...good bumpers and ruined paint.

I bought a rusty Schwinn Heavy Duty with the monster chrome fenders, mostly brown, as were the bars and wheels.
16 hours of scrubbing with rust remover, and the fenders were spotless, as were the bars. The wheels came out very well. The paint was yellow, and other than some spots of rust, cleaned up pretty well, too. The $20 bike, with $10 worth of steel wool, rust remover, and chrome polish, went for $285. The chrome sold the bike, hands down.
Quality and workmanship have their place.

I've often wondered if the Italians knew how bad their paint quality often was, and threw in some chrome lugs to distract me.