The $12 tool might not be as good as the $80 tool, but I think quite a few of the $29 tools are. Part of what makes the $80 tool cost $80 is that fancy warranty and the truck the snap-on dealer drives, etc
Back when Sears was doing Craftsman tools I wanted a set of them flex head, ratcheting box end combination wrenches. Sears wanted over $100 for the Craftsman version with the walk in and plop it on the counter warranty. Then had a GearWrench version ( ?? I think that's it ) for $80 and the sales person told me it was basically the same and had lifetime warranty, but you need to keep receipt, mail it in, wait for refund if your lucky enough. HF had a set that was $30 that looks and feels every bit as good as the GearWrench Sears was selling. I have a set of each. And holding them side by side you cannot tell the different other than the MFG name on them. -- Yeah not all are like that. You have to be selective. But at the same time many of them $80 tools cost is not in the quality. Its factoring in the service and convenience. For a professional mechanic at a shop that might be worth it. For weekend warriors, there are options that are just as good and costs a lot less.
2005 GL1800ABS 62,000mi
2003 ZG1000 134,000mi