Guitar players looking for a quality all solid wood acoustic cheap

I went to watch a SRV tribute band and the guy played a Squier Strat but had two proper SRV Strats on stage. He played all the way through with it and broke a string on the last song. Encore time so instead of picking up one of the SRV Strats he changed the string on the Squier and carried on. Later on he told me he paid £30 for the Squier and nothing else came close.

Was the sound of the band compromised?
 
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