Zach, your quess is as good as mine. The only way to know for sure is to contact the company that made them (not necessarily who markets them) and see if they'll tell you what type of steel it is, and you'll likely have to wade through a few layers of employees before you find someone who even knows.
They may make a servicable knife, and they may not. Known steel is the best option, though experimenting with unknown steels doesn't hurt. The problem is you don't know if it will make a good knife, you don't know how to harden it, and you don't know how to temper it. You can figure all of these things out via experimentation, and you'll likely learn along the way. But you may waste $20 experimenting only to figure out it just isn't going to work.
--nathan