Cheap and well? Yes, cheap and well can be a possibility. It just takes time.
Of course in the commercial world time is money so there goes the cheap. Cheap and well seems to belong to the hobby crowd. But I'm retired so I guess I also belong to that crowd.
But even a commercial design can be cheap to make and also perform well. You just need to spread the development time over a lot of units.
But in engineering circles it is well known that every thing is a compromise. The famous saying is,
"I can make it fast. I can make it cheap. I can make it well. PICK ANY TWO!"
And that is the truth, you only get to pick TWO, not all three.
Cheap and well is also possible? 