I worked at a boat shop for 5 years, and had many experiences with all different grades of coolers (read Price brackets). Being that I never owned a boat, I never invested in any serious Yeti like cooler.
I'm on my second Coleman flip top cooler, which usually rattles around the back of my truck, with ice and drinks until supply of one or both run out. While I believe you get what you pay for in most cases, I have been served pretty well with the "bargain priced" coolers for my personal use.
This last Christmas I was given a Yeti 20oz cup, and tarpon shaped bottle opener. I have to say, I was shocked the first time I went back for a sip of hot coffee, from that cup. It was still as hot as when I had poured it 3 hours earlier. It also keep ice for about 24 hours, with continuous refills of water. I'm a believer, but I've never spent my own money on one.
When people ask, I tell them my personal experience. Whether they spend their $ on Yeti is left up to them.