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The $14 screwdriver that made me rethink cheap tools in Phoenix

I always figured a screwdriver was a screwdriver, so I grabbed a bargain bin set for years. Last month I had to take apart an AC unit at my rental in Phoenix and stripped the head on the third turn, cost me 2 extra hours and a service call. I finally borrowed a neighbor's mid-range one with a magnetic tip and it grabbed instantly, no slip at all. Now I'm not saying spend crazy money, but I get why people laugh at the dollar store stuff. Has anyone else had a cheap tool fail at the worst possible moment or am I just unlucky?
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