There are a generic type that is about that price, but alas I couldnt say how effective it would be.
This is a review of the Titan branded of the same machine. Don't know what you'll be putting through and might well be fine, but as with everything woody, you do get what you pay for.
That said, it might suit you right across the bat, . proof of the pudding and all that
It won't be getting much use, I will be making things like picnic benches, tables and planters so they won't be anything intricate or in need of being perfect.