Yes cheap rods can last a long time brought my surfcast rod 10 years ago for $70 and its still in good order. The butt has a few cracks as expected but that can easily be fixed.
However all the cheap Sub $50 Surf reels ive owned havent lasted very long. Only got 4 months out of a $35 warehouse reel before the handle broke got a replacement and that broke ofter 7 months. Longest lasting reel ive owned is a Daiwa opus plus which lasted nearly 6 years and only cost $90.
Most of the gear I own cost between $60-120 and its lasted good.