Because you are not going to find "high quality steel" in a $30 knife. Period. Frankly, even asking for a combination of a solid handle AND reliable mechanism is pushing it at the $30 price point. Knives definitely fall into the "you get what you pay for" category. Even a Swiss Army Knife costs $50-60. That's pretty much the lower floor for high quality and anything approaching "solid." Anything cheaper than that will have an inferior hinge/mechanism, a cheap handle (if wooden), and won't hold an edge, which defeats the purpose of making a custom job (aka Massdrop project) to begin with.
If you want a decent EDC knife, there is a recommendation list on the r/knifeclub subreddit that has 18 recommendations for the sub-$30 mark. Unfortunately, if you want an EDC knife for anything approaching every day use, you're better off waiting until you can scrape together a little extra cash.