Noone said Baofengs are high-quality devices. But that's kind of the point, and it is easily good enough to get onto a local relay to get some easy satisfaction and practice the non-technical aspects (like: err, what did he say? and what am I supposed to say now?). Since it's only $35, I own one and have have used a couple of different models. I've done QSO's (connections) over repeaters around 25km away with these from rural but non-elevated positions without any problems. (Ok, I probably used an antenna that costs $10 extra.)
Besides, what's so interesting about 70cm/2m handhelds that makes getting an expensive one worth it anyway? Spending the money on a HF (around 3MHz-30MHz, often a bit more) transceiver seems like a much more interesting choice (long distance, antenna building, atmospheric conditions etc.). (This does not mean there are no interesting things to do on 70cm/2m. But even with a Baofeng you can e.g. work a satellite with the right antenna.)
Yes, you're relying on the superior equipment and position on the other end, but so what, if it works? Noone tells the QRP (low power) crowd to get an amplifier either, and certainly noone complains about the very crude DIY designs most people build. It's ok.