Current production is supposed to be quite good. The gun's designer (I cannot remember his name) is held in high regard in the industry.
Nutnfancy give the gun excellent reviews as a back up weapon.
The low price has more to do with production efficiencies than poor quality.
After tooling is paid for, how much do you suppose the molded frame costs to produce? I would estimate about $0.50 to $1.00 each.
But the mold cost might be $100,000.00. So if you only sell 10,000 guns you need to add $100.00 to each frame to pay for the mold.
But if you are like Kel-tec and you sell a low cost, high volume gun and sell 100,000 guns, then the cost of the frame is $1.00 for the mold, plus the molding cost as above.
So a gun that sells in quantity at $270.00 (the cheapest that I've seen) is not half as good as a low quantity weapon at $540.00 each.
And Glock, which is a high volume producer of very good weapons that are very high value because of the quantities produced, and are certainly at $600.00 not 1/4 the quality of a 1911 that costs $2,400.00.