I don't think there is any "one answer fits all" conclusion to this.
Depends on the product, the mfg policy, who is selling it, the honesty and integrity of the seller.
If purchasing an item directly from the dealer, and it says "factory reconditioned", good chance you will get a quality item.
If it comes from a second party, well, kinda taking your chances.
I've taken the chance with several tools, had good results, mixed results, and bad results.
Bought several drills from Ebay and other internet sellers, all but one were just like new, one was short lived.
Bought a Ryobi gas blower, said reconditioned, but saw no evidence it had ever been out of the box. It has always been a hard starter and cold natured, even with a new carb.
Bought some reconditioned Ryobi batteries on Ebay. Did not work, relabeled China knockoffs. More trouble to argue than just trash them, lesson learned.
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