There are differences because the manufacturers are aware that some folks buy based solely on cost. Engine oil has certain specifications. Filters are the same story. The premium brands do much better. This is also true with respect to air and fuel filters.
Engines wear out primarily because of abrasives.
There are other types of abrasives than dirt. Abrasives are things that are in places they shouldn't be. The main thing is to filter that stuff out. We can't stop it all, but with premium products we can minimize the effect. Coolant has a limited lifespan due to degradation.