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"..A lower end rifle scope quality of the lens and magnification factors will likely be about the same as the more expensive piece.."

No, it won't. But depending on the use, they may "do".

Groundhoggin' will tell on cheap glass in short order.
Ridin around on a 4 wheeler over a few thousand acres and actually using the turrets will tell on the mechanics.

Mid to upper tier Leupold or other quality brand is the meaty part of the "value curve". Most over that are gettin to be bling-ish if not outright bling. A good optic requires more precision mfg than the firearm it guides to target. Way more moving parts. Resolution can trump magnification in most applications. Something well worth considering when you're making that optical decision.

Just another opinion from my experiences with competitive benchrest and varminting. YMMV, FWIW, IMHO and all that jazz. d:^)