Yes you may be paying for the name but isnt that the same with a lot of things? (Apple for example?) my grandparents have never had any issues and are very pleased with the products.
Paying for the name usually equates to paying for quality. The reason a hell of a lot of companies have copied (or at least tried to copy) the Apple design.
My grandparents also own a Bose Acoustimas 5.1 system which sounds very good for its size