PRS for the longest time was considered to be more of a smaller manufacturer and more boutique in comparison to the already established brand of Gibson. Only in the recent decades have they began making guitars that are more accessibly priced for anyone who is not an avid collector or professional player. This accounts for the boom in the PRS market and their now very noticeable presence as a competitor to Gibson. They are seen as such because the two build guitars with very similar philosophies. The formula for a Les Paul is the same as the formula for a PRS Custom 21/22. Set neck, mahogany body, flamed or quilted maple top, ebony fretboard, dual humbuckers, two volume, two tone, three way switch, stop tail piece with tune o matic bridge. PRS gained its following because it actually did Gibson better than Gibson did Gibson in the late 80's. A similar story is the coming of age of Taylor acoustic guitars in regards to how they started as a boutique company and by way of high quality instruments have become a very large player in not only the high dollar instrumnets but also the 500-1000 dollar instruments.

As for Fender, there still isn't a guitar manufacturer that could do Fender better than Fender can do Fender. And there probably never will.