Welcome to the world of production framing.
Most matboard manufacturers have some line of OEM boards. We have been using them for years.
Bainbridge has a similar line called, Canterbury.
Savage also has some great boards marketed through Cali Distributing.
People who call them, "cr@p" probably also say the same things about poly or Framerica Bonanzawood....
And I am sure it is no secret that Caxton and Larson (and I am sure others) also have production lines of moulding that are aggressively priced and work well in the same arena. There are wonderful, quality mouldings out there that are still less than $1 per foot.
My response is that they have their place, especially in the world of decorative contract framing. I sure can't see paying 50 cents or more per board for something that will perfectly suit the client's needs.
Sometimes we overprice ourselves or reduce the profit potential on jobs due to self limitations.