One option is to buy used. My wife and I are going to need to buy a new kitchen table soon. Put off by the high prices of new premium products and not willing to buy from Ikea we have turned our eyes to the second hand market. Perfectly fine furniture can be found used at a small fraction of the cost of the same products fresh out of the factory. I'd much rather buy a table with the top made out of solid wood instead of chipboard because such a table top can be maintained and repaired much more easily.
Most of our furniture was bought used. We used to do it because we were broke college students. Now we do it because it makes sense financially and environmentally. Plus, as you've noted, older furniture tends to be of much better quality -- and it's often pretty easy to give it a quick repair or update.
Sure. There are all kinds of products on the market for wood repair and surface finishing.
My view on this is similar to yours, my wife's :P
We actually do this a lot with baby clothes. W have bought some new for occasions but the majority is from the flea markets. It is something I do like in Finland, the flea markets come with a lot less shame than in Australia.
It's a given that a lot of the baby clothes are bought from the flea markets. Even upper middle class families do that here. It has to do with the mentality that no good thing should go to waste.