Squier's always made some outstanding instruments. Will Sargeant of Echo and the Bunnymen played a Squier Tele for some time in the 80's, when they were made in Japan. The current crop of VM and CV guitars and basses are often excellent, and IMO preferable to standard MIM stuff, and occasionally preferable to 'nicer' FMIC guitars.
Like anything else that is mass-produced, you need to fish around for a 'better' rather than 'worse' one, but that's hardly unusual at any price point (Gibson, cough) with guitars.