A Moccamaster is like any other electric drip brewer. It takes water and ground coffee and it brews a pot of coffee.
Is the difference noticeable between a Moccamaster and a generic cheap coffee maker and does it truly last longer?
From what I've read online, the Moccamaster is a decent brewer. As far as electric brewers go, I think that mostly refers to consistency. All the machine does is adding hot water to the grounds, so consistency means:
The water is added to the grounds at the same temperature regardless of the temperature of the cold water you're adding in the reservoir.
The water is dispersed somewhat equally over the coffee in the filter.
Based on the good reviews (and no personal experience) I'm sure that it will do the job as good as any other generic brewer. As for build quality, I think it's a decent design (premium materials even compared to the mostly plastic machines in lower price segments) that won't disappoint.
Looking at current retail prices though (about €200 in Europe or $300+ in the US), I can't help but mention that it's a steep price for adding hot water to grounds consistently.
Are there other machines which do a comparable job at a lower price? Definitely. The easiest way to find such a machine at a lower price is to look at a price comparison website for your own locale that includes customer reviews. Simply look for for drip brewers between $/€40-120 and sort them by rating. Then, to make sure that there are no hidden flaws (poor build quality, inconsistent brewing) you search for reviews of the candidate machine(s) online.
The reason I mention looking in your own locale is that some machines are priced reasonably well in one locale, but they're more expensive in another. I think the Moccamaster is a good example of that.
As an aside, I've seen some genuine recommendations for Moccamasters as well though in a slightly different context. The Moccamaster has been around since the sixties and it's produced by a Dutch company. As such, there are a lot of used machines out there and I've seen people recommend those used machines on Dutch coffee sites. Obviously, you wouldn't pay full retail price for a used machine.
At around $/€100, I think a used but good quality Moccamaster could be an alternative to a new brewer at that same price. For that price, you get a slightly sturdier build quality (copper coil for heating the water and a metal body). At the retail price, you are paying for the brand an the nostalgic factor as well.