I've been 'into knives' most of my life. I've bought a lot of knives and learned a lot in the process. I would submit that you should not make price the main criteria.
I do think you can get a useful, quality knife for less than $50. I have a few Victorinox Swiss Army Knives that cost less than $50, and I carry one of them every single day.
Depending on where you buy it, you can get an ESEE Izula for less than $50 and they have quite the following. I have two of them.
I will NOT buy a cheaply made knife. I normally avoid anything made in Asia, since often they are made to the lowest price point, and not usually the highest quality standard. I realize I am generalizing, and there are certain to be exceptions.
I have no experience with them, but I hear a lot of good things about Mora knives, which all seem to be less than $50, so that would be another case of a 'cheap' knife being good.
I'm big fan of buying what I like and using it for what I bought it for. If you like it, and it works, go with it, and don't make price the only criteria.
SP