Price doesn't determine the design aspects of a liner lock. As mentioned, expensive ones will fail. I've had that happen. On the other hand, the cheap - under $30 knife I currently carry is reliably safe.
What should be looked for in the design aspect is a liner leaf cut from thicker stock, with the pivot point as far from the blade toward the butt as possible. The longer leaf will have less cant when engaged and that is what causes the liner to walk out as the blade wobbles - it literally pushes the liner to one side working it out of engagement. A thicker leaf has more surface area and more friction, resisting that motion even more.
It goes to having solid bushings on the blade, too, not squishy Teflon liners that let the blade wobble. It's the motion that creates the disengagement.
What the angle of the lock is ground also affects it. Steeply angled lock ups can be problematic.
Any one of those items could be less than optimal and the knife perform well, but in certain combinations they consistently fail. I've got a Kershaw Boa that will not pass a spine whack or hold reliably in use - not a cheap knife at all. And the Camillus I currently carry, for less than $30, has never had a questionable moment.
Price means nothing. If it was truly a guarantee then the expensive knife makers wouldn't need a Customer Service department, because by the logic of price alone, it would be guarantee enough. The reality is less so. Expensive knives can very well fail, and making the mistake of trusting them without checking is where expectations get cut off.