Probably true for many, but I've got a wide range of value watches and some of the cheapies are favourites - None of these haven fallen into that category for me.
I also agree, to a degree, with the comment about homages (I don't really see Steinhart's Rolex-alikes as holding much appeal either), but the recent Steeldive/Heimdallr/etc Seiko homages definitely feel like substantially higher quality watches to the PDs to me for only a little more cash.
M