Oh no.. Yeah, I've learned not to go cheap on thermostats, but thankfully nothing terrible has happened with mine.
I started out the hobby with 3 jumpstarts. They just gradually became very inaccurate, and thankfully I was only able to keep track of this using a digital temp gun. They all became useless/dangerous to use within a year, so I updated to herpstats.
It's really true when people say not to go cheap on thermostats. If you want to invest more money in anything at all, the first thing should be the thermostat.