Absolutely, I shouldn’t have used cheap as a synonym for bad, or vice versa, that’s my mistake.
There are a lot of very good wines at low price points, especially from underappreciated regions. A little experimentation will result in finding some great value.
The same goes for the whiskey. There are a lot of distilleries out there with great offerings far below the price of the big names everyone recognizes. Especially when you take fads into account. Many bourbons and Japanese whiskeys that used to be good buys are now ridiculously priced.