The cost of your bitcoin wallet does give you peace of mind. As we all know popular hardware wallets are often too pricey compared to a unknown or less popular company. It is always the fact that if you want best, you have to pay best.
The price of a wallet might not determine how secure it will be. It is like assuming that because you bought an expensive car, it is safe from accident or theft. The user of such a wallet has the responsibility of ensuring that he abides by the safety rules of the wallet. It is also possible that the manufacturer of a reliable hardware wallet might be doing promotional or discounted sales which could lead to buying a good wallet at a cheap or discounted price.
It is generally believed that expensive items or reliable manufacturers are the sure ways of identifying a good product but that might not be the case at all times. It is also good to follow up on information about the wallet you use because these wallet developers can come up with an unreliable update or change their terms of service. An example is the new Ledger Recover seed phrase recovery service option by Ledger Wallet.
Expensive doesnt necessarily equate to more secure, and we cannot overemphasize this enough. Responsibility, as you correctly pointed out, lies with the user to enforce wallet safety. However, the influence of the manufacturer cannot be discounted. Wallets produced by reliable and reputable manufacturers often come with layers of security that provide a certain level of assurance.
Nevertheless, vigilance must be upheld in every aspect, including software updates and alterations to the terms of service. Ledger' recent seed phrase recovery option, for instance, might require a closer look for potential vulnerabilities.
Bitcoin, being the gold standard of cryptocurrencies, deserves nothing less than the highest security measures. Ensuring the robustness of wallet security, regardless of the price, is integral to sustaining Bitcoin' value and integrity.