I have a Morrell lap steel that I think I got for about $120 (with a bar and case). It sounds decent and holds it's tuning well. I've heard the Artisan is a fair practice axe for the price.
I would suggest that almost everyone who has purchased a lap steel finds they only use it on rare occasions for very specific songs or for a particular recording effect. Accordingly, for most, it simply does not make economic sense to invest too much cash into an axe that is rarely used.