That 'substandard' pack looks pretty good to me. Price doesn't always equate with quality and that goes both ways. My MEC Deluxe bookbag is one of the sturdiest packs I own and it only cost me $35.
I have the older version of the
backpack and it has been used on an almost daily basis for 4 - 5 years now carrying 15 to 20 lbs (and sometimes more) with not even a loose thread. It's too bad that MEC changed the design and eliminated the 3 small back pockets and went to a 1 back pocket design. The only thing it is missing is a padded waist belt...but is still a great pack.