A hearty +1 to what blamp said about value vs cost.

There's nothing at all wrong with saving money. But look at the durability and overall service life of the part. For me this means either the Formula hubs you mentioned or using mid level or better level Shimano hubs.

The issue may not be one of actual failure but instead of quality level. Cheaper hubs are cheaper because they are made faster and with cheaper components. When stuff is made faster the tolerances are not as finely controlled. THis can lead to roughness or misalignment that produces drag. And such drag due to these misalignments shortens the lift of whatever bearings are used in the hub.

They may be fine hubs but made in some part of the world where labour is cheap. But will you be able to get new parts for them later on if the design isn't generic?

For stuff like this I like to rely on looking at reviews rather than be the one who first buys the product so they can recomend it or warn about it to others.