When I bought a modestly priced bass built in Yamaha's Indonesian factory, it was pretty much playable out of the box. A month later I took it to be set up. The tech said, there are things that need doing but you wont see any dramatic changes, and added that that is exactly what he would expect of a Yamaha.
Around that time I tried a few other Indonesian basses, also not set up by the shop. I think they all would have been made by Cort (Ibanez, Squier) They were all harder work to play, and the Squier Jazz was in such a state that the 1st fret didn't actually work. (Still haven't worked out what would have been wrong with that.)
Yamahas approach seems a happy medium to me, at least providing a usable instrument if the retailer isnt doing any set up.