I also think that cheapest of the cheap stuff is impossible. Flimsy kitchen roll. Awful transparent loo roll. Cheap brittle spatulas. Baking trays that buckle as you cook.
That kind of stuff, that costs pence is awful, it makes life difficult and gets poor results. The kind of stuff you'd get from the pound store.
However, you can spend only marginally more, and get great results. Standard supermarket prices.
DH and I are in the top 1% of household incomes, and I bloody love a bargain. I shop mainly at Lidl and find their quality of fresh produce to be better than Waitrose. I'm a great cook, and yes, good ingredients help, but if you cook from scratch, Lidl is dirt cheap and gives you excellent results.
Our Dyson is a bit rubbish really. We've got a cleaner and it grates on me how much it costs (heavily pregnant with twins though, so need the assistance).
I do agree that better products last longer in general, some of my appliances are 10yrs+ and still going strong. They aren't ridiculously high end though. Just well researched purchases.