The buying and selling of brand names happens all the time in most business segments. Take Rolls Royce and Bentley. They are still sold but really have little in common with what came before the brands were bought by VW and BMW. Nike is nothing but a marketing company, making all their products in cheap labor countries.

Olde world craftsmanship, while an option for those willing to pay a big premium, is really eclipsed by the quality that can be achieved by state-of-the-art product development and manufacturing processes. A $25 Casio keeps better time than a $3k Rolex. If someone only WANTS to spend $600 on a bike for exercise and fun, they can get an Asian-made bike that Eddy Merckx might have wondered at 30 years ago.

Be an educated buyer.