My Dad said when he was growing up in the 60's and 70's, cheap knives was the norm.
He'd go to town with his Mom and there was a big display case at the Dollar store, with about 50 different models of Imperial folding knives. All sorts of patterns copied from American models such as the Barlow and 3 blade Case. They were made in Japan and so cheap they had hollow bolsters. Priced at 1.00 each he must have bought nearly every pattern they sold from the time he was 6 to 12 years old. He'd carry them to school and trade them with other kids. He hasn't got a single one today, as they were so poorly made they'd never withstand much abuse and that's something kids do well.
Having owned all sorts of pretty poorly made knives as a kid, he says we don't know how lucky we are with the vast selection of decent affordable knives today. Back then they wasn't nearly as common. So he doesn't have to look for cheap knives today, in order to appreciate good ones!