Higo no kami are cheap. They're the Japanese equivalent to the mercater, puma, opinel svord etc. The essence of a higo is that it is affordable, a cutting tool for the masses.
You should still be able to find one with decent steel though, blemishes on the blade, poor construction and cheap handles are standard but not soft steel.
Of course there are makers out there making really fancy higo no kami but that's not what you should expect.