It is just as easy (maybe more so) for the Fluke or other high dollar meter to read the 'induced' voltage. I use the Fluke meters almost every day at work and have one at home. Most of the time if I want to get serious with the power wiring I will get my trusty Simpson 260. When dealing with some
480 volt 3 phase circuits running in conduit, you can pick up lots of odd voltages that are not really there. For example one circuit would read around 100 volts on the Fluke , light up a neon bulb tester, shock the fool out of you, and read about 30 volts on the Simpson. This is with the wires disconnected at the breaker.It is not so much the meter, but the person that is using it. YOu have to know when the meter is 'lying' to you. Many people can not do that. Especially the people that seldom use a meter.