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Brands names and generic coming from the same production lines are priced difference because of differing quality control standards. This may or may not still be the case, but it was when brand names were working on building the brand.
So a can of brand name green beans is more likely to have full beans with better texture and consistency. The lower quality beans, more fragmented and smaller pieces, and more variety in color are going to be in the generic labeled cans. Yes, same beans and same production line but the brand names get the better stuff in the same way as the people who pick through the fresh produce when it arrives at the store and the generic gets to use whatever is left over.
Generics are perfect in soups and casseroles and if you don't care enough about presentation. Brands are for when you want rigid consistency.
Similarly: You may be able to make a dish at home, but the highest quality ingredients go to restaurants. This doesn't usually matter much, but sometimes it makes a sizeable difference.
100% still a thing. My etire country's butter is off the same group and packaged per everyone's request. Prices vary wildly.