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That setup is definitely not poor quality :)
I was imagining a Crosley with the supplied needle bent by your 10 year old and covered in wax and fluff.
I know people (even some on here) who love the Stanton 500's or similar on an SL1200 and I had that kind of setup for 10 years. Even the AT 95e is circa £40 and does a really decent job. You can hear the quality of the pressing with that kind of setup. I wouldn't call that kind of thing poor quality either.
Setup is hard to get perfect but it's easy to get about right.
Define poor quality?
I can tell the difference between a good and a bad mastering or pressing with my modest set up (40 year old Rega Planar 2 with original Ortofon cart/third party stylus, Arcam Alpha 3 amp, Celestion 5 speakers). Probably about £350 all in with today's ebay prices. You don't need to spend thousands to get a set up where the recording is the limiting factor.