I've been buying Kizer knives since they first became available. At their best I never would have compared them with Chris Reeve knives. They were never close in terms of fit and finish. The only similarity they shared was in materials.
When Kizer first came on the scene, they were somewhat of an anomaly. They were one of the earliest "Chinese House Brands" to make a splash in the US market. Reate was around, maybe Stedemon was just popping up a little but Kizer overwhelmed them all with the sheer number of original designs they brought to market. I wouldn't say the quality was on par with ZT or Taichung Spydies, but it was approaching it. At the same time the early Kizers were half the price of typical ZTs or Taichung Spydies.
Kizer carved out a niche as good quality knives with high grade materials at an exceptional value price. They started to get a little following and a little buzz.
Then Kizer began to work with known designers. I think some of the first were Matt Cucchiara and Justin Gingrich. This was an evolutionary development. Reate was also doing some early collab work also, but those were at a higher price point. For the first time you could get a production Cucchiara, Laconico, Vagnino for sub-$200. With these collabs, Kizer raised the bar in terms of design and style.
As they pumped out more and more designs, both original and collabs, Kizer prices invariably went up. As the price went up, some of the problems that Kizer had had all along became more prominent. Lots of people had problems with soft'ish hardware. There was a great deal of detent variability. Individual knives that shouldn't have passed QC slipped out for sale and designs that needed a little more work were rushed to market.
Kizer took a black eye and stumbled over itself, mostly due to an overly aggressive release and development schedule.
I think they've done a good job responding to the stumbles. They have a fairly responsive Stateside service center and it's my perception that the hardware and QC issues have improved. I'm not sure about detent strength.
Today, I'd say that Kizer quality is still in the realm of "approaching" Taichung Spydies and ZTs, probably closer than ever before. Of course, the price of a typical Bladesmith (top of the line) Kizer isn't that much less than a Typical ZT or Spyderco either. They're not quite the value they once were, but the quality has improved and they continue to bring knives to market that could never before be bought at a production level price. Along with Kizer, Reate continues to bring collaborations that are truly excellent and now WE is doing the same thing.
This is truly a good time to be a Knife Knut.