An example where this really doesn't apply is bicycles. When you're trying to get a child to learn to ride a bike, if you get a cheap steel bike from a big box store, it will be twice as heavy as it needs to be and can make the activity itself so difficult and unpleasant that the child decides they don't enjoy the activity.
Thanks to value engineering (gotta reduce BOM cost) a modern department store bike is probably substantially lighter than an equivalent "nice" children's bike from 30yr ago.
I have to disagree. I guess cheap is relative to your economic standing. We and I am purposely using we because there were about six of us learning to ride on two bicycles. All kids on the street. Both had no breaks, after too many punctures we used a thick hosepipe in place of a tube. Hosepipe made for very bumpy and rather heavy bike. As an adult I was in a better financial position and bought my daughter the cheapest bike to learn on. It's been six months now and she is riding just fine.
I learned to ride on the crappiest banana seat schwimm with a dynamo powering a heavy head-light. I love it. I graduated to a Rampar BMX and then a Rebel top top components including KKT pedals and and Oakley 0.5 grips. Man years later I got a Fuji Aluminum Road entry level bike for my teenager son and he rode it for a few months and tossed it. Not interested. It was a great entry level bike. I believe on the evolution of the rider, from a Huffy Wal-Mart to a Bianchi or Giant.