The honest answer: both, for different purposes. If you cook phở every two weeks and rarely other Vietnamese food, one bottle of everyday sauce for broth and marinades plus a small premium bottle for the table is enough. You only pay more where you can taste it.
If you buy just one bottle, take a mid-range sauce with a short ingredient list, ideally fish, salt and water, without hydrolysate. We think little of "the best fish sauce in the world"; tastes and kitchens differ too much, and brands change their recipes. What counts: read, taste, switch as needed.
Why not premium everywhere? Because in a broth cooked for three hours, where bones, spices and roasted aromas all speak up, the difference between good and very good fish sauce is small. In a raw dip, with only lime, sugar and garlic beside it, you taste it immediately. The phở bò recipe uses three tablespoons for four servings as a starting point; taste in small steps before pouring in more.
One more typical bad buy: buying a premium bottle on principle and then pouring it into water by feel gains you nothing. A mid-range sauce, dosed deliberately, beats an expensive one that disappears in a pot of water.