Yes you’re right. The bed for instance was 300 € material costs using 27mm glued wood beech, wher you can buy stuff using plywood for cheaper. But it looks much better and will last much longer.
So in terms of quality it is somewhere in between factory and carpenter buildt. For furniture it is well worth it imo. and i couldn’t find quality stuff for less than the associated material costs. Yet you can find a lot of plywood furniture that is way to overprized because “designer” or whatever.