I can't comment on how accurate that is, but as for "cheap mass produced shit", I refer you to both times the US invaded iraq. Kill ratios on the order of literally 100 to 1. This is the point at which you can't actually overwhelm better technology with quantity.

Wars are, of course, incredibly more complicated than just measuring kill ratios and highscores as if it were a video game. There's usually multiple factions involved, all with differing objectives and those factions and objectives can change and mutate during the course of the war anyways.

If we look at a war the US unequivocally lost, defending south vietnam from the north vietnam invasion, there are a whole bunch of factors but exactly none of them involved some kind of "high tech too advanced" weapon system being defeated by "lower tech but more mass produced" systems.

Doing some incredibly basic research shows that the actual dollar cost of the vietnam war was, relative to the american economy and so on, pretty small, and not a major factor in the ultimate result of the war. Producing fighter jets or whatever that were 10% cheaper doesn't seem like it would have made much of a difference.

This actually kind of proves my point, we can "go to war" with iraq or iran and as long as we're not implementing literal conscription, the US is willing to maintain those wars for a very long time. There's a gigantic difference in public response between "2 pilots died when f35s were ambushed" and "10,000 american soldiers died in this month's battles around Baghdad". One of those gets you some headlines and a few protests, the other gets you voted out of office.