If a squat rack is cheap, does that mean it's unsafe?
Not necessarily. Racks have been getting cheaper and cheaper over the years due to the number of buyers. These more affordable racks still have a steel frame, and many still come with the attachments I like, like safety catches and pull-up bars. A cheap rack does not automatically equate to it being an unsafe or "bad" rack. However, in most cases, the more you spend, the safer and "better" a rack will be.