My main strop for 4 years was a generic German "Prima Rindleder" thing, I paid the extortionate price of £5 for it in a closing down sale. One of these:
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It seemed to work well enough so I never felt the need for another until last year when a second hand Westholme appeared on eBay which I ended up winning for £20 but I think they are more like £120 to buy new (prices starting at..)
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You get much more leather to play with, in comparison the German one feels like a travel strop. Feel of the leather is also totally different despite both being cow... The German one feels like a very fine suede almost whereas the Westholme is like a high quality leather jacket, supple and with a light sheen to it.
In a nutshell, from my experience, there is little benefit to a higher priced "low end" strop... Specifically from the point of razor edge maintenance, it just doesn't seem to make much discernible difference. However, the nicer strop is far more pleasurable to own and use. I'm yet to use one myself but from what I've read cordovan is where you begin to reap the benefits of paying more for a strop.