The thing that is great about all this cheap stuff is a guy doesn't have to feel guilty about buying a few things he needs or take out a second mortgage to be able to get stuff done.
One of the best mechanics I know has a set of cobbled cheap **** he has tunes all along the way and doesn't beat on a HF pick set with a 4 # hammer.
The dollar combination wrench has been a Godsend, we got them where they are needed. Its not painful to throw them in a pickup or golf cart, tractor tool boxes. Spent 50$ on 50 of them 20 years ago and broke about 2 with a hammer, lost a couple and the rest are still in business.
They have mastered the cheap adjustable, the cheap Vise Grip not and never really can seem to perfectly duplicate the 440 Channelock and make a long life side cutter or number 9 side cutter.
Cheap sockets have come of age as of recent as well as some cheap screwdrivers and other bits. Performance wise no longer see a difference in a low dollar uni bit as a pricey one.