NOt usually. The mixture of brands and wacky fly-by-night OEMs in that industry makes things a bit confusing; but cheaper is not usually better(exceptions exist, both with low end standouts and high end ripoffs; but they are unpredictable). Now, you have to go pretty low these days for a disk to actually not work, at least at lower speeds; but long term reliability is a dodgey one.
If you just need something for temporary use, Linux install, mix CD for the car, w4r3z to friend, etc. bottom feeding is good for you. If these are actual backups you care about, do the right thing.