Not at all. A quality steel axle can be very strong – which is what you really need for harsh off-road riding – without adding excessively to the price.
And while the titanium (actually more likely a titanium alloy) of the premium options have their place – they offer the same tensile strength for nearly half the weight – the axle is a relatively small part of the pedal. Consequently, ti-axled options that really concentrate on reducing weight tend to actually be less strong, and have rider weight limits as a result.