Doesn't need to be five times as good. Marginal gains and price increase are almost never a linear correlation. Some people don't mind paying 5x the price of a bottom-line chain for a 2x improvement. All about what you want, think you need and indifference curves.

More expensive chains are generally stiffer, more durable and longer lasting that cheap chains. I used to switch back and forth between a SRAM PC-1 (regular 1/8" chain) and KMC 710 (beefy track chain) depending on the weather and the difference in stiffness and smoothness was noticeable. Not that it affected performance but it was possible to feel it.

I wouldn't pay $35 for a track chain, the 710 is a pretty awesome deal at $11.