I can see it both ways. My daily driver is a converted $100 Walmart bike (the conversion kit & battery cost +$500). It’s held up okay, but I’ve had to put a lot of labor into it.
The only things original on it now are the frame, seat, crank, and one pedal. Still, at 4600 km, I’ve put less than $1000 into it, so you can get into it pretty cheap if you’re commited and your needs are simple.
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