Still a newb here, but I've been collecting/carrying pocket knives for years, and the above holds true for those, so reason would dictate that it is only more so with razors.
FWIW, of all the knives I own, my most carried is of Chinese manufacture. However, it was designed, contracted, and imported by a reputable American company, and that makes a big difference. I suspect that if something similar were to happen with a straight razor, then the results would be similar.
I've also used enough different knives to notice a difference in edge performance. This can be dictated by so many factors that it's the quoted poster's sentiment applies. Many people get caught up in blade steel, but fail to consider that grind, edge geometry, heat treat, and tempering (among others I probably don't even understand) have just as much to do with edge performance as does blade steel. One factor that many people don't consider is the individual who hones/sharpens the razor/knife. I once read a claim by a respected individual that a certain Chinese knife couldn't get as sharp as some that many of us were used to (factory rep told me the same thing). Of course, the first individual changed his mind when I sent him my personal knife of the same model that he was reviewing. He realized that, "It wasn't the knife that couldn't be sharpened, but instead the person who stopped trying to sharpen the knife."
Premium steels can be a bonus, but sometimes they may only make up for failings in other areas.