I tried posting this to Ask Women but it was removed. But I thought this was the best response:

I used to be in some groups that placed a lot of emphasis on the engagement ring and, after seeing someone's ring, would pick it apart later. It was a mix of judging the man and pitying the woman.

I am the reverse in that I feel myself being judgmental for women who expect a crazy expensive ring. I cannot wrap my head around it. Ime, it's been women younger than 25 who may be less financially savvy. It made for some awkward conversations as I would try to understand how one can comfortably expect a piece of jewelry that costs 10k-20k, without feeling guilty or whatever. But I think this type of judgment occurs more often with younger people and as they age, their priorities and what is important develops and grow

It fascinates me that the one who isn't required to buy anything (with regard to engagement rings) always avoids any potential label of being cheap or not. It's the other side, the side that's required to do all the buying, that could potentially get the label. He's the cheap one, not the one who gave no reciprocation.