I wouldnt personally spend crazy money on knives, but if someone is into cooking and preparing food, then a good knife would be very important for them.
If it gets used daily, then a decade of using a 100 quid knife isnt a bad investment
True, but you could probably buy a few more sets every time a cheaper set goes blunt, if you are not a professional chef who relies on knives as a tool of the trade. Especially as you would probably want to get an expensive kitchen knife sharpened professionally.