Unfortunately, as you even said, this is what is happening in the industry. Reformulations, cheaper ingredients, restriction on the fixatives, but most of all just the lack of pride in product. These companies know people will still buy the product, so they cheapen ingredients and think only of their bottom line. No more thought is put into creating, maintaining, or presenting a quality product. These my friend are the days of greed, even on the least expensive fragrances.
It is a shame though, Avon used to make some nice fragrances. I knew a woman who wore Timeless and it was really nice and was quite the sillage monster. I can only imagine what it has now become. I guess this is our big welcome to what the 21st century promises to be.