Is there a big difference between expensive cosmetics and basic cosmetics?

Looking at the price ranges of cosmetics these days, the difference is so huge that I am conflicted.
I became curious if using expensive cosmetics definitely makes a difference.
I am even more confused because some say that even inexpensive products are sufficient for basic moisturization.
I'm not sure if the price difference is due to the ingredients or the feel of the product.
I am curious to hear your experiences regarding the actual difference felt on the skin.
I would also like to know if expensive cosmetics are worth using long-term.
I am struggling to set a standard between cost-effectiveness and satisfaction.
I would appreciate some realistic advice on choosing a price range for cosmetics.