“…I went through a period with “inexpensive hooks”.
It was good for tying numbers of flies. But not so good for catching fish.
Poor quality control, and lower carbon steel leads to misses with fishes!
Personally, I find this unacceptable, or maybe unbearable is more accurate..
I learned long ago, a bargin isn’t a bargin, if it doesn’t work.”  Jim FF Forum 

At first take, it might seem quite obvious to not buy cheap hooks because they may/probably will fail while fighting a big fish. But, what’s the big deal for smaller fish. You will notice that a few hooks out of the box have a malformed eye or no eye, yet they were packaged. Also, according to some, the hooks are so dull they don’t penetrate the jaw of the striking fish. Rust, brittle, aesthetics all seem to add up to missed opportunities. You get what you pay for when it comes to hooks. It is one thing to drop down a notch to find mid level priced waders, rods, reels so you can afford the sport. With hooks you are talking about saving what, dollar wise, in the course of a year? Unless you are commercial tier, I doubt you will buy that many hooks in a year, nor save that much money.

Roman village excavation near Yorkshire produced this probably fish hook, point damaged.

For the price of a case of good beer, invest in quality hooks this Winter and once fishing, periodically touch up that hook point (with a file) after dredging the bottom or playing a fish and removing that hook, especially with a tool. You could get a deal, but it could end up being a big deal.