Anything under $25 is "disposable". Maybe even under $50... chalk it up to cheap foreign labor.
I still have my heavy G.E. from 1963 when I went away to college... bought with "plaid stamps".
It's fallen off the board several times and is finally getting to the point of not holding a real hot temp. even tho' the fabric covered cord was replaced - with a rubber/plastic? one. I use it for fusible applique as I don't care if it gets gummy/sticky.
Just figure a new "disposable" iron every 3-5 years??? IF YOU'RE LUCKY!