Is a laptop for $76 a steal, no matter what?
At some point, junk is junk. You do get what you pay for. If this was 1080p I'd be all over it.
I think that's a terrible analogy.
Try turning on a $76 laptop, it won't be functional.
A $76 32" TV is perfectly fine for watching TV or videos, playing video games, using as a screen for a menu/slideshow in a store, etc., even if it doesn't have the best specs.