There are very real, verifiable differences in performance between mech mods. This comes down simply to the materials used, and the design of the device. Using less conductive materials means more voltage loss, and a loss in performance. A design which incorporates a lot of connections and contacts introduces more voltage loss, and loss in performance. If someone is saying their mech "hits like a train" or whatever else, that means it has very low voltage loss, at least compared to whatever other mechs they have used.
But the very real truth is that expensive does NOT equal better performance. Buying expensive high-end stuff does not guarantee you top performance. There are super cheap china mods that will out perform a large number of the high-end models, and there are high-end models that have incredibly low voltage loss that few other mechs can touch.
I had a GS Matrix Telescope- it was absolutely dreadful out of the box. With coils in the high sub-ohm range, the bottom button would heat up quickly and performance was anemic even compared to a smoktech Bolt. I had to totally rework the switch, and the 510 connection, in order to get good performance from it. My Edz Modz Avenger V3, as well as my EHPro caravela clone both hit excellent out of the box. The mods stay stone cold, and performance is very strong. My old sigelei was awful out of the box, but better than the GS matrix.
It really all comes down to the individual model. If all you care about is performance, and you don't mind a bit of tinkering, there is absolutely no reason to spend more than 50 bucks or so on a mech. You can put something together that performs as good as any other mech on the planet.
But, like many other people, I appreciate having a hand crafted device. I like having an individual serial number, I like supporting small independent modders, there is a bit of refinement and overall quality you get with high-end stuff that you don't get with most of the cheaper devices out there. In general the expensive stuff is nicer overall, and it's more likely you'll get good performance straight out of the box, but there is no astronomical difference in materials quality or performance between high-end and low-end stuff.
On the subject of the backwards battery placement, it's really not a good idea. As was mentioned by someone else, the body of the battery is negative. With the battery in place positive side up, the body of the mod is the negative as well. If there is any sort of tear in the battery's wrapping, and it touches the wall of the mod, it won't be a big deal. It will simply complete the circuit (bypassing the switch) and power the coil just like you are pressing the button.
If you have the battery reversed, the body of the PV becomes positive, but the body of the battery is still negative. If there is a tear in the wrapping, and it touches the wall of the mod, you will have a hard short. It will connect the negative body of the battery, to the positive body of the PV. This will be far worse than the previous scenario.
Before a tear just resulted in bypassing the switch, this time a tear results in hard shorting the battery. Because the short is directly between the wall of the mod, and the body of the battery, there is nothing else to stop or break the circuit. Unless you catch this almost instantly you'll overheat and vent your battery.
We're all adults here and I'm not trying to tell anyone what to do, but it's a really bad idea to put the battery in backwards.