Techinally, it's not made by Valvoline. It's made by Ashland, who also makes Valvoline, and some other private brand stuff.
And the reason it's "cheap" is because it's probably a bit down on the add-pack compared to a brand like Valvoline. But in no way does that make it bad stuff. It is made to meet specs just like any other product. It just may not "exceed" the specs to such a degree as some of it's competitors in the big brand names.
I see no reason not to use it. I've run both the Napa dino and synthetic fluids, when I can get them on sale. They work fine.