I am more familiar with the mig models but that may be early, it may be bullet proof or not, couldn't tell.
I am going to ramble a little here. For some tools the quality is good enough and the cost low enough it makes them a worthy risk. I really don't have comparative experience in cheap mig or plasma but it is interesting to wonder where the price/power/useful curve cross somewhere in the white box version with one of the off brands.
By some reliable accounts some of the cheap clones in Tig/stick machines work.
I tried the very bottom of the line I paid 100 for on super sale and its not the same as my Maxstar. This doesn't consider the longevity but it cant do it and the Max does it perfect.
I suspect there is a 250$ -300$ one in a China , that green one maybe that does the same thing.
The hobby market has helped this competition. Welding machines have always made both ends money, the maker and the user. They made some profits but the stuff last forever and worked good, const5ant innovation was good without robbing the customer and you could always buy a real brand name by the innovators and the proven (hence long warranty) for less than a rebrand carried by other vendors.
It cost a few more,,, and not obscene, but some more to own the best they make. The margins were small, so for 300 more why would I consider something less???
Then came features, they came about to allow for price increases. In recent times welders have stayed low,,,,, you can buy some of the same models today for the same $. When they came out were 625$ and not much more than that today. About 25 yrs or so before a price increase which has mostly been feature driven,,, hence the 211 etc. You can buy a base model single V for 700 or less brand name today.
So,,,,,, this became a brand name decision, price was about the same as were features and power. What the 200 class mig has done is kept the cost to a 900$ decision that is adequate, some what marginal but it does real work and anything on a car or light truck and hobby garage, this has kept the price in the next class suppressed in an effort to upsell.
It has become more affordable, I remember buying a few my first machines. Got the wrong ones first... ha