As always, the devil is in the details. Was it a .com domain? I'm guessing $1 for the first year, is that correct? What is the cost from second year onwards?

Many companies use deceptive marketing selling stuff for such a low cost that it is too good to believe and it often is - you gotta read the fine print. I got my internet connection for $75 and two years later, I am paying 108$ for the exact same thing, with no additional benefit.

you can pick very cheap domains with some tlds.

For example, my .ovh is costing me around 4$ per year and there are probably even cheaper tlds.