I love cheap knives. I have a box of 10 Hultafors HVKs, and 11 Mora 510's, not to mention various other models amounting to another 15+. They're great!
However, I have worn them out before. Not the blades, but the handles. Either split the plastic handles, or the blade just came loose from the handle. It happens after time.
For myself, I'm willing to put some real money into a single blade I can rely upon while in the wilderness. Something that I know will never come loose from the handle, or fail unexpectedly leaving me with a blade with no handle. Something I can strap on my hip and really trust to work for me, year after year. But care has to be taken to protect such a fine tool.
In my opinion, I don't think your tip should have failed, but I can see it blunting. Metal on metal is never a good thing. Especially not sharp metal on dull metal. Best to use an awl or a nail for punching holes in a tin.
If you want a cheaper knife you can rely upon a tad more than a common Mora or Hultafors, I can highly, highly recommend any of the budget puukkos using Lauri blades. Full length peened tangs, carbon steel, good sheaths, and usually just a bit more than a Mora in cost. Something like an Erapuu, Ahti or Iisakki Jarvenpaa.
To my mind, a good blade is an investment in my future. I enjoy having a blade I'm familiar with, of which I know all it's characteristics and nuances. It becomes a trusted friend.
Cheap knives are great. But there's just something impersonal about a plastic handled job which you throw away when you're done with it, only to pick up a new one... I tend to carry them as backups, or to use for rough cutting jobs around the house. Or, when I'm teaching someone to use a knife.
However, I'm a member of Ground Search and Rescue here in Canada, so when I go into the wilderness, whether on duty or on my own time, a time tested, trusted blade of stout construction is a good friend I feel naked without.
