I've generally not had much luck with cheapo bike bits and pieces.
The sidewalls on a £20 pair of Kenda tyres cracked after very few miles, all my Schwalbe tyres - about twice the price - have been faultless and long lasting.
A cheap pump I have is next to useless, and several cheap tools have let me down.
On the other hand, my cheapo
Halfords bar end mirror does the job nicely, and I manage fine with cheap clothing.
Although I've never had any expensive cycling clothing, so don't know if it's any better.