You know, I've never thought a lot of Fernandes gear, but they have to be doing something right in order for Robert Fripp to use one of their guitars for quite a while.
Like most companies, they made gear at different price points, some good, some not so hot.
Whenever I think of Fernandes, I think of a former Minneapolis music store whose owner had Gibson but couldn't get a Fender dealership. He would tell any customer and even new employees that Fernandes predated Fender and that Leo Fender visited Japan in 1947 and stole all his ideas from Fernandes.