Arguably Henry Ford started it and allowed the masses to get their mitts on expensive luxury items. Generally quality goes up and prices come down. Occasionally there are mistakes and companies reputations can suffer if they aren’t rectified.
There are obvious environmental issues as well as alienated and low wage workers as a result but that’s another issue.
That said in 2022 an aspiring muso can head out with less than £200 in their pocket and pick up an instrument that with a basic setup would be good enough to record and gig with even at the highest level if no snobbery was involved.
This is the legacy of Ford/Fender.