I agree with Jimmy that when you need feel & contact, YES there is a HUGE difference between even most $100 rods & the entry level $20-$35 rods out there. That gap usually only grows as you climb up the cost & quality scale. My GLoomis worm rod is LIGHTYEARS ahead of say a Lightning Rod when it comes to dragn plastics over & thru the lakes bottom. Likewise my GLoomis & Duckett crankbait rods allow me to feel EXACTLY what that crankbait is doing as its bouncing thru a lay down or along a weedline. (Likewise the same for the spinnerbait rods I use, I can feel the blade stop turning/thumping when a soft striking fish takes the bait)
But what about while fishing cranks/spinners over open water when there really isn't anything to "feel"? That's when the cheaper rods are justified for a lot of anglers. & like I told my buddy that I recommended the Lightning Rods to, "He'll likely never need to feel the fish breathe on the rods" so he can save his $. If at a point in the future he wants better feel, then he can always step up with a higher end rod.
The main thing you pay for with OTC rods is the graphite content. A $25 Rod like say a Cherrywood is a composite blend of graphite & something else (usually fiberglass). Whereas at about the $50 & up range you start getting into full graphite content & that type of graphite, other features & materials like trick handles & guides come into play as the price increases. But again, those features may or may not be necessary for all of your fishing. A gent standing on the rocks below a dam & throwing cut bait at catfish ain't really in need of a $300 high end graphite rod & likewise I wouldn't want to use his old tough fiberglass catrod to fish creature baits thru brush tops either.
Like the toolbox out in my garage, different tools for different jobs. Some tools are expe$ive & some ain't. It takes a lil of them all to do it all.