Ithaca had a gun at every price point. From the bottom to the top grade, from the Nitro Specials to what every you could afford. Robert is right that low price guns forced all the makers to lower cost, lower margins and bring out lower grade or less complex guns with less fit and finish in all grades of guns to keep open.
Just look at Fox. Every year after 1910 or so, Fox either brought out a lower grade gun or was forced to cut cost and quality to keep going. A. H. Fox never wanted to bring out a Sterlingworth grade but instead wanted to make the very best grades. It was just that the market for these high grades has always been very limited. Decreasing fit and finish, less machining and less complex designs were a constant evolution of the Fox line. Early graded guns were very well finished while the later ones were much less so.
Ithacas lower prices were a drag on all the makers prices. Hard to sell your gun for 60 when Ithaca made a double for $25, $35 and $45. And for years Ithaca made money even at these lower prices. While one by one the other makers either stopped making doubles or turned to other guns for sales.
