When did such a well known, quality manufacture start going wrong? Please understand, I have nothing against Sig. I don't want any American gun manufacture to be in trouble, or any American company, for that matter.
SIG marketing is bizarre (rainbows, military, and other exaggerated names/designs). Bizarre.
As for quality, some have nostalgic ties to truly unique craftsmanship (the sort that Glock, H&K, FN, Ruger, and others have never even attempted), and the new versions are not made to that level of fine detail.
Having said that, if one is just seeking a reliable handgun, if you avoid new products (that applies not only to SIG, but to Glock, XD, S&W and others!), there is absolutely nothing wrong with SIG handguns. A 226 will be perfectly reliable, just as a Gen4 G17 will be.
I am sad to see companies value profits at the expense of employees and product quality, but this is not unique to SIG. Pick a product category, and pick a company, and you will see the same. Some (Cerberus, Freedom, etc.) are more cutthroat than others, but they are all on the same path. You don't think Glock changed metal treatments because they found a superior one, do you? They did it to pinch pennies. Just like everyone else... including SIG.