Based in NYC here. My first electric bike was a Veego Semi Fat purchased on Thanksgiving 2018. Since then, I have upgraded to a $3700 Tern Vektron and now a $5300 Riese & Muller Tinker.
The Veego was a fun ride, great looks, fun thumb throttle and somewhat reliable Bafang motor. In addition, the modularity of pretty much everything - including the battery - led to a "if it breaks I'll just replace it" for $200-$300 mindset. The Vektron felt amazing with the Bosch motor, Deore shifting, authoritative folding latches and amazing hydraulic brakes (which are nowhere to be found on cheap ebikes).
But then I got the Riese & Muller which rides so buttery smooth compared to both of these bikes, from a geometry and stability perspective. As good as the Riese & Muller feels, I always wonder if I could have saved all this $ and went with a Veego or Rad power bike and upgraded components like the brakes or derailleur. In fact, I find that most of the cheap ebikes on the road pass me on my $5300 R&M with Gates Belt and Bosch CX motor (which is restricted to 20mph).
Bafang is like Android, almost open-architecture and can be found on most bikes of different price points, shapes, sizes, whereas high-end mid drives like Bosch/Brose/Yamaha are iOS. You will not have the same level of freedom or derestriction, but you will be in an "ecosystem" and backed by mature, large companies that only partner with solvent/stable manufacturers that are already sure-footed in their respective segments of the market. I have a lot of respect for the cheaper brands that are making electric bikes available to many consumer segments and many will make enough to keep the lights on. However, the industry is too crowded ATM and there will be some consolidations and operation seizures similar to -- but not indentically -- to the automobile industry in its infancy (100s of American brands in the early 20th century -- only 5 today).