Bike geo: there are three contact points you make with the bike. Backside, hands, feets. DO you generaly like the bars higher for a more relaxed position or lower for aerodynamics? Do you like the sitting horizontally close to the pedals thus putting more pressure on the feet or for the saddle to be further back thus giving a more relaxed position. That kind of stuff.
As to bikes made in same factory or production line: true, but the implication shouldn't be they are the same bike. They could be, or they might not be,
The brand itself: if you ride a £5k pinarello or a 5k BTwin then, wait, no BTwin even made a £5k bike? Are Pinarello making a huge profit on that bike? Sure they are. Are BTwin making a huge profit on any of their bikes? Sure they are. That's why companies exist. Do these brands send out different vibes? Yup. Should they? Dunno, up to the observer.
Do the frames feel different? I was VERY skeptical of this until I tried out some frames while using the same wheelset, tyres, tyre pressure, and back-to-back and I was amazed at the differences. The slightly more comfortable yet much stiffer bike was far more expensive than the harsher riding one. Is it worth the difference? Well this is where market segmentation comes into play. If you can afford the more expensive bike, you will justify it's purchase. If you cannot, then you will justify why you dont need the more expensive bike. There are those who can "afford" it but choose not to.
There are those who say to test-ride as many bikes as you can. Yeah, but you won't be buying a bike for a couple of years then. So I normally just go to my favourite bike shop and buy from their selection. Oh, magazine reviews.... don't worry about them.
Edit: lol i just realized i wrote "feets" but I'll leave it there for comedic value if you are so inclined.