I got my current phone for 160€ (if I'm not mistaken) 1.5 years ago and I couldn't be happier. Browses the web perfectly and runs my few apps great, I'll keep it until it breaks. I'm so happy that I'm even considering buying an extra screen to have reparaibility in the future in case they are hard to find then!
It's funny that many of my non-tech friends who spent half a month salary on an iPhone (Spain) are quite confused about me using a cheap android.
Edit: also note that my 160€ phone now is way better than those 400€ phones 6-8 years ago. And there's not even that much difference with a current 800-1000€ phone.