Charlie,
Most of us have been there. I bought an inexpensive bike initially because I didn't want to spend a bunch of money then lose interest. My bike had some of the most inexpensive component available. Once I really got into cycling and decided I wanted better stuff I started an upgrade program that has turned my inexpensive comfort hybrid into a pretty darn nice commuter/tourer that I love and would take anywhere in the world. Maybe in total I have spent a little more than I would have for a road bike with better components to begin with. But I now have a bike that is just about perfect for its intended use, and the knowledge of bicycle mechanics I consider priceless.

From total ignorance about a year and a half ago I have learned to do everything you can do to a bike. I recently built a bike from scratch. All this stuff is really kind of easy once you do it and get the right tools. One of the most intimidating things to me was the the whole crankset/bottom bracket system. Heck, lately, I've been swapping cranksets and trying out new chainring combinations about once a week. After riding it unpainted for a few weeks to confirm the fit, just yesterday I stripped the bike I built so I could take the frame to be painted. Took less than 1/2 hour.

So you don't have to apologize for starting with an inexpensive bike. They get you started and can be excellent learning laboratories if you want to learn. Any components you put on your inexpensive frame can be moved over to a better frame someday. Since you will buy a piece or two at a time you can spend a little more and get better stuff.

I really don't think you need a new crankset just yet, though.
Regards,
Raymond