I see this all the time. Friend of mine bought a $200 Milwaukee drill to put up a couple picture frames.
Spoiler alert: most of my tools are the cheapest I could find.
Edit: In other words, cheap tools aren't just less durable, they often do a worse job (or at least make it harder to do a good job).
Using cheep tools gives you a freedom to experiment and know the limitations of the domain area and then invest in things that you exactly need without the risk of overpaying or underpaying, all for a minimum investment.
It's biggest problem is that sometimes I forget I have it, then fix what I was doing in few minutes. Also I sometimes forget to charge it, as it holds a charge for years in my practice.