I agree, Menards is generally lower end products but usually twice as many varieties from which to choose.
The treated lumber at Home Depot matches the color of Cedar. So, my cedar fence has some Home Depot in their structures.
One good point about Menards is their treated lumber. Theirs is the only treated lumber, of the three, which can actually survive ground contact. Also, their 5/4 decking is actually one and one quarter inch thick. Home Depot and Lowes is only 1.0" thick. So, for fences and wood decks, any time I am putting wood into or on the ground, I only go to Menards.