Yes, but it's certainly an indirect (
rough) measure of quality. You need better quality components to achieve a higher efficiency. Plain and simple. Of course, that doesn't mean that there's corners that can/will be cut to reduce costs.
As component quality increases, so does the BoM. Efficiency is a widely understood term that can be used to sell a PSU for more money. If you're spending/charging MORE money on higher quality components, but can't at least beat your competition (or your own product lines) on the most well recognized feature, then you'd better hope your name sells.
Us hardware nerds may enjoy reading PSU reviews to know and understand exactly what's inside each PSU and what makes one better than the other aside from efficiency, but we're a minority in the market. I researched at least 6 different PSUs (after narrowing the field with my general knowledge) and chose the EVGA G2 [Super Flower] platform a few years ago instead of the Seasonic stalwart (at the time) for well-informed reasons, but most people don't care to dig that deep. Price and efficiency are the two main considerations of most buyers. Name recognition will only get you so far.
I've read the Corsair CX reviews a number of times and feel that it's an acceptable level of quality for the insanely low price tag. Are there other PSUs in that same market that are marginally better? Probably. But the market is TIGHT. Someone can buy a CX550 for around $30, or jump to a
Seasonic Focus+ 550W for $50...$50!!! Good luck wedging yourself into that narrow price range and canyon of performance gap. (different considerations for non-US market pricing of course, but still)