Branding to capture different segments of the same market to increase sales whilst sharing components, designs, manufacturing facilities etc etc is nothing new - eg:
In the car business Seat, Skoda, VW, Audi and Bentley are all under common ownership.
Clothing - Arcadia - Burtons, Miss Selfridge, Evans, Topman, Topshop, Dorothy Perkins
Most of the products we buy as consumers are made by a very limited number of groups. In the power tool business it is estimated that ~48% of all tools are made by just 5 groups.
We reward with money and power those who are commercially successful. So the drive to dominate markets through exploiting brands and sharing costs across an ever wider cost base is an inevitability. Not saying whether this is good or bad - just unavoidable!