MadCatz products are not completely shit. Before SF4, yes. But ever since they made that Tournament Edition SF4 stick, MadCatz has gotten serious about making good sticks and they are legitimate now. People who say otherwise are elists who haven't even touched a modern MadCatz stick. It's hard to say which one is truly better now. Hori and MadCatz both offer cheap-type sticks (average $50, but you get what you pay for) and high-quality-type sticks (solid but average $150), all of which are about the same quality and price whether you go MadCatz or Hori. If I remember correctly though, MadCatz sticks are actually easier to mod. (but I'm not a modder so I don't know for a fact)
The only difference between their offerings is that Hori also offers super-high-quality-but-also-super-expensive sticks. ($200+) whereas the highest-quality thing MadCatz offers is their Tournament Edition line. ($150)