Worth the investment
The cheap ones only last so long, and can be quite heavy and poorly made. There may be some more affordable better options out there if you do your research.
I haven't looked back after the Parlux. It's lightweight, it's more powerful, it dries my very long (I have a lot of hair!) faster than any previous hairdryers I have owned. I even opted to take mine overseas with an adapter, as I couldn't bear the thought of using a terrible one that would take twice as long to dry off my hair again.