While we are just guessing, I'll guess the opposite.Here's the only problem I see with that Jay, If I had a "I sell cheap stuff too" sign out front, she probably would not have brought me the good stuff.
Just based on that I suppose you may want to just avoid any value priced framing if you don't know how to sell it proffitably. But keep in mind by matching Micheals prices, most of us would increase our ticket prices since they are so expensive. So "cheap" at this point is subjective.I won't make nearly as much on the cheap stuff.
Remember framing is elastic. As you continue to focus on the smallest percentage of framing customers, you will get less framing. (is that redundant?) The majority of people who bought frames spent something like $100. Just look at the CC frames you have just purchased. I believe that less than half the 450+ shops carrying those frames have EVER sold one. This may be a road sign...or not...I dunno? It is clear that as you focus on the most extream high end of framing, the number of clients that consider you drop very sharply.