Well, while I've certainly appreciated the various expensive, hand-fitted 1911's I've handled and used over the years, I've never felt you had to spend a lot of money getting one to work reliably.
My early 70's lightweight & Combat Commanders only needed a bit of adjustment to feed most anything I wanted to shoot, even the early CCI/Speer 200gr JHP ... the old 'Flying Ashtray'. Of course, the magazines weren't as well designed for short JHP rounds back in those days.
My Officers Model did take some tweaking and new parts, including some better magazines, but then it's ran fine for several years with only recoil & magazine spring changes, and with any ammunition I've cared to use in it.
My last couple of of purchases, a Colt stainless Government XSE and a SW1911SC 5", have both been consistently reliable in feeding & functioning with any of an assortment of good quality .45 ammunition I've used in them ... but then I've only used what I've determined have been good quality magazines in them since the beginning, too.
Now, there are lots of 1911-style pistols of all sizes out there on the market. Lots. All sizes, too.
I've seen a fair number of some of the newer ones come through our range and exhibit feeding and functioning issues. Sometimes it's obviously been the shooter ... and sometimes it's apparently been related to either poor ammunition, poor magazines or poor maintenance, or some combination of those issues ... and then sometimes it's seemed to be something inherent in the pistol, itself.
The smaller the 1911 platform is reduced in size, the more 'sensitive' some of them seem to become to shooter & ammunition-related conditions, too.
Lots of folks just can't seem to resist twiddling, fiddling and 'improving' them, too.
Wanna spend $2,000 on a 1911-style gun? You can. Easy to do.
Is it necessary to do so?
I don't think so, but that's just me ...
I wouldn't own any of the 1911's I do if they weren't reliable.