Is LeCroy really crap?
No, they aren't (and using terms like 'LeCrap' is as childish as terms like 'crApple' or 'Micro$oft', and gives me the feeling I'm talking to someone who hasn't left puberty). Their midrange and highend scopes are actually very good, and there's a reason why LeCroy is still considered to be the Mercedes amongst scopes (although that reputation has dimished somewhat in more recent years).
LeCroy has used 'rebadging' in their lower midrange series (WaveJet) and upper midrange/lower highend (Waverunner) before but this was with Iwatsu who make really good scopes. And more importantly, at least in case of the Waverunner these scopes were in fact developed together with Iwatsu (not just bought from them and relabelled) and the software is/was maintained by LeCroy.
The thing with LeCroy however is that they never looked at the entry level seriously, and still believe that rebadging toys from china is enough to hold their own against Agilent or even Tek. Unfortunately the only outstanding thing about the WaveAce is their high price, everything else (software/firmware, user interface, lots of bugs, low hardware quality) screams Atten/Siglent. It's not just that these toys can't keep up with the entry level from other manufacturers, it can't even keep up with Rigol.
It seems LeCroy has found a good way to ruin their reputation for good with smaller shops or startups that one day may want to upgrade to a high end scope.