Time out, everyone!
As the founder of this thread, I will add a point in defense of cheap
tents (since I haven't as yet written the full AIRVENTURE TENT BUYERS
GUIDE).

Mike's points are all valid. He has quantified them and they are sound.
If you know what to look for, you can find inexpensive tents that will
do the job.

The information I posted is intended to educate the reader about what
features to look for and why. Armed with that information, you will find
a wide range of prices that may suit your needs.

Short story...
One of my neighbor/campers this year was using a 15 year old Eureka
Timberline 4. During the wind and rain, the fly ripped. The tent and fly
were faded and worn. My neighbor was lamenting that he was disappointed
in the tent. He had bought it because others had told him Eureka was a
good tent and would last a long time.
It did, he just had higher expectations.
He expressed that he would probably buy a cheap $40 tent because if it
only lasted a couple of years, he could purchase another and still be
money ahead instead of spending $160 for a new Timberline 4.
Is his logic flawed? Maybe. Maybe not. It all depends on the features
and materials he selects for his next purchase.

Personally, I have been experimenting with light/ultra-light camping
using just a 10x12 siltarp and a piece of 6'x8' TYVEK.
I am not quite ready for a week worth of AirVenture with it, but it has
potential.