My wife and kid wanted cruiser style single speed bikes...what you'd call a toy. And I'm not hung up in that word, it is what it is. But they bike a couple miles a day going to and from school. They sit all day in the sun and rain and just keep ticking away. They were both less than 200, and honestly, I don't see what would be gained in spending more given the criteria, other than perhaps appeasing 'bikesnobs'(is that a thing? I was thinking of something like beer snobs).

Sure it's not a race bike, or mountain bike, but they still work just fine for transportation.