I think the answer to the original question is, it depends. Are you asking specifically about rimfire benchrest? What constitutes low priced? Some folks would say anything under a grand is low priced. Some would say under $400.
The lower the cost, the more quality is luck of the draw. Some folks are happy with a 36 power Barska. Some folks hate them. I think it's because the quality is so variable. A cheap scope can sometimes be bright and crisp, and some will track well. If you want to be sure of those things however, you've got to spend some bucks. Would you rather spend a grand once or $300 three times trying to get a good one?
Recoils is a factor too. A cheaper scope is more apt to break under heavy recoil. I have two Osprey 10-40 power scopes (no longer made) that cost about $150 apiece. They are wonderful on rimfires. I'm not sure I'd trust them on hard kickers, however. They were advertised as "assembled in China using American epoxy". Somehow that is not completely reassuring.
I have been consistently happy with Simmons scopes on numerous rimfires and some deer and varmint rifles.