Thats a good portion of the issues. Any electronic device can fail but in my designs we have tried to get a couple steps ahead of the problems. In looking at other brands I often find components that are rated right at the max for what the thermostat is going to be rated at. The triac component is the biggest gripe. It doesn't make sense to cheap out and save 50 cents on one of the most important components. Also things like the audible beep that a Herpstat makes when there was an error like probe coming unplugged or a mouse checking through it. Lets be honest, no one wants to check temps all day long and make sure the thermostat is still doing its job. You may not notice a problem exists for hours or more but most people will pay attention to that beep. :^) We even went further and have the high and low alarm alerts. So yes you can get basic temperature control out of a cheap thermostat. But you have a lot of compromises to save a little money on a device most intend on using for years.