I'll start by saying that it's your money, your choice of firearms, so choose what satisfies you and makes you happy.
I've no desire these days to buy what I consider a "cheap" firearm. Inexpensive? Sure. But not cheap.
I've never owned a Heritage Arms revolver, or a Rossi, Charter Arms, and so on. I know what I like, and I LOVE the feel and look of a "good", solid firearm.
I believe it's bad to pay too much for something, but I believe it's worse to pay to little, and end up with something less than what I want and/or need.
That said, I have no "need" to buy any more firearms. My needs are filled by the collection of firearms I've aquired of the years, so when I buy one these days, it's because there's something "special" that I want.
Those "special" ones that I want usually run at least $400.00, and usually somewhat more than that. I don't buy many these days, but when I do buy something, I see no reason to buy something less than what I already have.
IOW, there's no reason to buy a Jennings .22 LR if I have a Colt Woodsman in the safe. There's no need to buy a Heritage RR if I have a Ruger Single Six or two in the safe.
But if I don't have those, then "something" is certainly better than "nothing". I bought my first .22 rifle back in 1980 simply because it was "cheap", and I could afford it at the time. I paid something like $44 and change for it NIB, and I figured it'd get me by 'till I could buy something better.
And I still shoot that little Marlin 60 30 years later. It's never broke, and any malfunctions have been due to either cheap ammo, or not having cleaned it often enough.
At just a bit over $1.46 per year (if it broke now and never worked again, which isn't likely) it was a worthwhile investment.
And to be sure, I've never cared much about what others think or do on issues like this. When it comes to my toys, it's all about me!
Daryl