The story in the original post here is exactly the point of my attempts here to try to impress on people here the need for safety in a multimeter. The voltages and power involved in the story are not something almost everyone here would ever get close to, but...
There are lessons to be learned.
1. Use the correctly rated equipment for the the job. Sure a wall socket or a home distribution panel is NOT LIKELY to kill you, but there is still potential for burns and flying bits of plastic and parts should something go boom. If you only have a $5 meter and you need to measure something, "well this is only one time... what harm can it do?" is what most people a likely to do. Familiarity breeds contempt.
2. If the person in the story was that careless or distracted over something he knew would most definitely kill him if he screwed up, how careless or distracted might you allow yourself to be if there is only a slight chance of something going wrong? Familiarity breeds contempt.
3. Never assume something is the way you think it is and then make safety decisions based on that assumption. When dealing with electricity, if you are going to assume anything, assume it can kill you, and proceed from there.
4. Good equipment or bad, it is up to you to not be lazy, or complacent, or careless. Think about what you are putting your hands into before you do it, and then think again.
So did a fancy high priced multimeter save this guy? No. He appeared to have used a Fluke 87 series and it did not protect him from his error. It was not the correct equipment for the job he was doing. The possible severity of the consequences if you use a $5 meter in a home power distribution box are much much lower but there is the potential for injury or loss of vision, and still death in the worse case.
Buy a cheapo unreliable built for no safety junk multimeter if you wish. Just remember from this video that using the incorrect equipment has consequences sometimes that could not have imagined. Oh yes, think, then think again, then double check before you stick your hands in anything that has electricity involved.