Fender? No! Squier. Yes! :D
I can't afford Fenders. I needed a bass. (Accidentally--I ordered in a hurry--I got a short scale, which is what I really needed as I play it in a recliner and as my left-hand fingers don't work so well and a regular [long] scale would have fret-distances to large near the head-stock!).
So, I bought a Squier. And, I was (figuratively) "blown away" by the quality. Hopefully, some day I'll be able to afford a Fender bass (maybe a lefty as I play uke lefty, tho' I'm a righty--lefty due to some physical disabilities) and be able to compare Fender to Squier directly. Until then, Fender has lost any potential business because of the 5 stringed instruments I own (all 2015 dollars: forgotten-maker/$30 uke, $250 Ibanez tenor uke, $230 Peavey lap steel, and $300 Ibanez acoustic/electric steel-stringed guitar, and $180 Squier Shorty-Bass), the Squier is by far the best built and best sounding (tho', I love my tenor uke).
Again, until I get rich ([chuckle]) enough to gamble on a Fender, my next guitar (will be a Sweetwater guitar) will be a Squier (lefty)!!
Fender might not have shot themselves in the foot with (lost sales to) Squier, but, they surely must have a sore toe or two! The exceptional quality of my Squire bass is incredible for the price when compared with my other stringed instruments! INCREDIBLE!