I worked in a guitar shop part time in the late 70s (when I should have been at school really) that was a main Fender dealer.
From memory it was commonly known that of the new Fenders 25% were good, 25% were average and 50% were really horrible.
As an example I remember a brown Telecaster that was known as 'the turdcaster' and was unsold in all the time I was there. It was heavier than an anvil, the bridge was out of line and the pickups had virtually no output amongst other faults.
It's probably in some vintage emporium for £2,500 now.
I'm guessing the 50% ers have had a lot of surgery in the last 30 odd years to get them up to playable standards.