Yes; Chris is right:
You generally get what you pay for.
and that's especially true with tools. The same has happened with tools as with many other consumer products; the price has determined the quality. The more low cost tools we buy, the less top quality tools are available to buy, so we've pretty much shot ourselves in both feet by pursuing low cost at any price(!)
There is an awful lot of stuff out there that looks nice (and cheap) but is made of cheese and badly put together. Ultimately, we pay for the tools in the time and effort we have to expend in making a silk purse out of a sow's ear. That's difficult for someone starting out with a workshop, because it often takes expertise to be able to end up with something that works, is accurate, and does the job it would have done in the first place if we had paid top dollar.
For some folk, trading time for a saving in money is fine; but for others it's not such a good deal. It depends on what you want to spend your time doing, of course.
Marcus