Welcome to CPF!!! Get your wallet ready, it's bound to get thinner as you read posts in this forum
as for your inquiry, if the light you're referring to is less than $5, then by all means, go for it. But while you're her let me summarize what factors you should consider in choosing your next light. These factors can be arranged to your preference depending on which you consider more important:
1. Build quality - often what most of us here look for.
2. Battery types
A) 18650 - my favorite since it strikes a good balance between power and runtime
B) 16340/RCR123 - my favorite for edc (everyday carry)
C) 14500 - 3.7v version of AA cells.
There are many other types of batteries out there but I find these to be readily available in my area, hence these are what I stick with and buy flashlights which use these cells.
3. UI - several types. There are even programmable ui's. A good example of a programmable ui is that of the Armytek Predator.
4. Controls - often linked with the ui. There are two-button lights, side switches, magnetic rings, rear clickies, etc.
5. Power - defined by lumen output and candela.
6. Beam pattern - flood or throw. Former is more useful in my opinion. Can be used for almost and job. The latter is used for more for searching or when you need to see something very far.
7. Tint - warm/cool. Former renders colors better than the latter. Cool tints tend to be brighter, though.
8. Size - for edc or for the bag? Like I said above, my preferred edc light is a Nitecore SRT 3 Defender which uses one CR123/RCR123/AA/14500.
9. Other features - some lights have battery indicators, displays and even secondary led's such as the Nitecore SRT series.
This list is in no way complete but I hope it helps you out in your purchasing decisions.
Cheers!