if price is all that mattered here are a few companies from the past 5 to 10 years that had great prices - Packard Bell, Gateway, Acer, Commador, Tandy and NEC. Each of these companies and many more have tried the low price trick only to have companies like Dell and IBM continue to hold market share even when their price was a little higher, but the product was more stable. Everyone that fears the Chinese computer vs Dell or HP (if they get their act together) is missing public trust as a factor.
I must agree on the issue of public trust. That certainly makes much difference. At the same time, even without brands, Wal-Mart can become a retail king selling some cheapest products. So, both are important.