They hold up MUCH better than the big box retailer bikes.
Also, much like the cars we drive every day - half of the fun is playing with them!
I have a low end Ralgieh from 2004. I used it a lot since I got it, with the exception of the past two years. Besides holding up great, it's easy to find parts for when things do break.
For example, I wore out the front shock , but also wanted to have a more upright seating position. If I had some $89 walmart bicycle, I would have had to toss it in a dumpster. Instead, I was able to get a larger front fork (with shock) ... totally worth it!
I can't remember if mine is a 21 or 24 speed, but it's geared pretty low. Anything more than 25 and I seem like I'm pedaling my legs off.
New Topic time!