I’ve been using a cheap go-pro for around 9 months now. I did a review a few months back, which showcases the hardware and if it’s worth the actual cash (here). In that review, I pretty much said yes they are totally worth it. I still stand by that.
One thing I’ve noticed with these action cameras are that if they fall from waist height (without a case), they will get damaged, and if worse comes happens, it lands on the lens this can happen.
Because of this, the camera became unusable as a camera (it could still record the audio). Sadly I had to buy a new camera that same day, I’m just thankful the camera is so cheap, I would have hated for this to happen to my bigger cameras.
I still think it’s totally worth getting a cheap action camera as they are amazing, just be careful when it’s not in a case.