It's a judgment call. Some things I buy cheap, but some I depend on and want better quality. A friend buys cheap knives to give away as souvenirs at events. They're crap, and he's given me one every year for 5 or 6 years now, and they sit in a drawer because they won't hold an edge long enough to open an envelop.

The knives are perfect for him, because he gives them away. :-> My preference for a survival kit is to get quality gear, because I need it to work when I need it.

For two bucks, I'd say buy one and use it. See how it works for you. Use it before you need it and see if you're getting your money's worth.