I've used cheap soldering stations for many years.
In many cases, the iron will eventually break, because the plastic is not able to stand up to the heat. On the hakko clones, this means the plastic fails where the retaining ring screws on. As long as you can buy spare parts and don't mind to wait or store these parts, that is all fine.
Then there's the stand. The stand is integral to the function of the iron, IMO. The hakko 888D stand is excellent.
I'm an advocate of using cheap tools. I will make my own, if/when I can. (I have made my own temp controlled station.) I cringe when people talk about "high quality materials." But in the case of Hakko, it's true. Plastic != plastic. Hakko 888d is a really good deal if you live in the US, despite the stupid interface.