Some people have got spectacular results from a £133 Anet A8 kit (Gearbest sale price a couple of weeks ago).
The results they got are often better than 3d printers costing over £1000. In fact some users have gone as far as to say it's one of the best 3d printers on the market.
But like any kits if you don't take care to put it together correctly then it will all go tits-up.
80% of 3d printers that cost between £133 to £1500 are very similar in performance once setup correctly, and they are basically the same design.
Filaments have also come down in price and the quality has gone up. You can pay as low as £13 for a 1kg spool of PLA or ABS and get very similar results as a spool costing £40 or more. 1kg goes a long way too.