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I say go for it. $40, whatever.
My issue with multitools is, they do everything so shitty...that's it's almost not worth having it. Sure, better than nothing but outside of the knife and pliers, not by much.
Thus, I'm not willing to pay much for them because I don't value them at the level of their cost. For $100, I think you're better with a $40 folding knife, a $10 mini plier from HF and then keep the $50.
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You are absolutely right about the cheapies. They really don’t do anything very well. My GI Gerber does very good. Break it, just tell Gerber and they will send you another. I recently found a very early model of the GI Gerber with the non replaceable cutters that actually WORK and am tickled to death as the replaceable cutters barely work (my only complaint).