I'll tell you and anyone else who wonders this the same story.
A few years ago on "that other knife site" we had a similar question from a gentleman looking to get a knife for his son, and another for himself. He'd recently lost his work knife after 20+ years of daily use. It was a cheapo Smith & Wesson blade, nothing fancy and I don't even recall the model. Likely wasn't more than $20 (and there are some fantastic knives for that price by the way, although S&W isn't one in my opinion.) That knife served him and served him well for decades. He was considering getting a similar one but was open to suggestions.
The problem was, he couldn't understand our hobby/interest. Much like you, a cheapo knife that served his needs worked well, and spending anything above that seemed frivolous. Although different and better knives can do a cutting job better, he'd had no problems with his knife all those years. And that's great. But it made it difficult, nigh impossible, for him to walk in anyone else's shoes here. That isn't really a problem, and it's neither his fault nor the fault or forum goers, it's just the way it is. He wasn't stupid or anything, it just wasn't something he was going to ever understand, because he didn't have the mindset capable of understanding it. In the end, you simply cannot explain certain things or interests to people who don't, at least in part, share same. Explaining knives as a hobby to someone not interested is, essentially, pointless. And there's really nothing wrong with that.
That guy ended up getting another $20 knife and was very happy with it. Which I think is great. Better he buys what he knows he'll like and will do what he needs it to than spend more money than he wants to on something he feels is vastly overpriced.
The truth is we have a lot of logical reasons for liking the knives we like. None of them are going to make sense to you, I can tell you that right now. And that's okay. We're all like that in some areas of life.
A guy who restores old cars and spends a ton of money restoring them to perfection could likely go on for hours--and quite sensibly so--about the value of his hobby. But by the end of that conversation, I'm still not going to get it (obvious beauty of said restored cars notwithstanding).
We purchase these knives because we do. Although I can list about 50 other reasons, to save time, I'll just stick with that one. It's the only one that will work. And again, that is A-OKAY. :thumbup:
Buy what you like, and buy what works for you. If the current Wally World special is what works, I say, buy that knife and enjoy it, good sir.