Weren't those Dutch bikes changing hands for €50 once decent, €350+ bikes? I think they are, that's why they're still working.

I was given an £80 bike once, to cycle to work and back every day. It was ruined within 6 months -- the bearings in the hub and bottom bracket were worn out, the brakes wouldn't line up properly, the wheel rims were almost worn through, the gears didn't change properly. People in the Netherlands simply don't buy these bicycles, they'd rather spend €90 on a second hand one.

However, the £80 bike is OK for a British adult to cycle 10km round a nature reserve, once or twice per year.