Walmart recently introduced a knife similar to Benchmade's Bugout under their Ozark Trail brand--$10 blaze orange/D2 (with full liners, and $5 white handle/unknown steel (and partial liners like the real Bugout.
I bought a few of each as Christmas gifts--also, one of each to keep and use myself. Usually, I carry and use inexpensive knives I plan to buy as gifts before giving the others away--just to see if they're any good.
Walmart had the white ones in stock locally, but the orange ones were out of stock in all stores, and even online. This morning, I noticed WM had a few more of the orange in stock online, so I just ordered them all at once for shipping.
Orange has full liners, as well as a D2 blade. Honestly, I can't say I've seen a "cheap" knife with good D2. The Kobalts from Lowe's aren't bad, but they're $20 and $25 respectively.
I have seen a lot of places saying this is one of the best cheap knives ever made--and they've been hard to find as a result. We'll see about that. I have been buying just about every inexpensive knife with an AXIS-style lock I've seen on store pegs.
Note: recent batches have a reversible clip. Thus, it will definitely get swapped over for left-hand carry.
The $5 version, with no liners, is closer to the Benchmade. I really don't like the white handles, however.
One thing I question on the $5 version is the handles--they are polypropylene instead of fiberglass reinforced nylon as on the Benchmade.