Yes ,HF didn't exist, but there were junky tools back in the late '60s ,early '70s. I know I bought some. Even Craftsman were outside of my means. Japanese made Oxwall sockets and American made Acton/Thorsen combinations.
Warranty, Snap-On, "Sorry, you weren't the original purchaser" . Proto and Gray , with the same explanation, "Sent it in."
There is a use for junky tools. At work the 3/4" drive set is company supplied. The set is always missing 1 5/16" and 1 1/2" sockets., the two most commonly used ones. So I bought a couple of Princess Auto, a Canadian chain somewhat like HF, sockets. Really crude with a big CHINA on the sides. With the 1' impact , one broke and the other stripped. The company replaced them with Proto. Which I still have, retired now, so rarely used.