I've heard it - don't believe it. Manufacturers do make special runs of some models that seem to be sold only at Wal-Mart or other discounters, but that usually just involves different stocks, etc. I've seen this done with the Ruger 10/22 a couple times.
Given todays legal climate, ain't no maker with half a brain is gonna' make something
of lesser quality when it comes to the barreled action - the parts that count.
Heck, the most accurate Marlin 30/30 that I ever owned was purchased at a discount store when I lived in Missouri. Had a pretty good looking walnut stock too. I still kick
myself for ever selling that one.