Yes, because cheap big box bikes are famous for having a bunch of things go wrong right away, and the local bike shops will charge you a lot to repair it. Soon you'll be up to the price of the bike. Whereas that Schwinn is likely to keep working as it is for at least a year.

I do agree that it might need an overhaul. If you have a friend who knows bikes a bit bring that person with you to check the bearings.