Exactly, it's horses for courses, but lets be honest if the average spark is just using a meter for straight basic tests, i.e is there continuity, and whats the voltage, is it 110, 230 or 400, then how many get it calibrated annually? not many I'll bet. Where you are looking for a difference of 1 or 2 volts then accuracy is critical if it's just a "go or no go" then it's not exactly mission critical.
1 or 2V!
In the days of analogue controls, we used to null to +/- 0.005V!
Seriously, cheap meters are much more dangerous than they are limited in accuracy.
Take today, I had just left a customer/supplier, about 45 minutes from home at 4pm, hoping to miss the bulk of the traffic.
Phone goes, my laundry customer, I knew what machine was down before I answered, their tunnel wash, and almost certainly full.
So, I agree to call there “on the way back”, they are there till 6pm anyway because of other issues.
I get there and there are some screwy things going on with the fwd/rev on the tunnel.
So I get out my trusty Fluke 87 and start working my way through the circuit, now I’m not worried whether I have 230 or 240V AC exactly, as long as it is there or there abouts on the contactor coils etc.
However, I have one of their maintenance guys & their “production manager” standing watching me.
So, I am working my way through the circuit live and dead testing as appropriate.
I’ve just done some dead testing so measuring a couple of contactor coil continuities, and we switch the machine back on.
It’s late, I’m tired, I’ve been at work for 10 hours already today both hard physical graft, and, technical stuff too.
So, I make the error of not switching the meter from Ohms to AC V before I check for 3ph across the top of a contactor.
What does the Fluke do? Flash the display at me and show 0.00. So I correct the setting and carry on. No damage to the meter, no damage to me.
OK, yes my fault, it’s called a lapse in technical terms. However, the Fluke is designed to cope @ £400 ish. Would a £5 - £10 meter really cut the mustard and protect you from a lapse?
I doubt it.
So for me, it’s not about accuracy, & repeatability, which are, as you will know different. It is also about the readings you get when things are not right, allowing for lapses in concentration without killing you for example.