I'm torn on this one. My first couple of kits were low end, first a Ludwig knock-off from Sears and then a pawn shop special stencil kit. Neither one lasted very long because the hardware simply fell apart but especially on the stencil kit I learned a lot about tuning, fixing, repairing, and upgrading a drum set.
So on the one hand yes, I suppose the money spent on those kits could be considered "wasted" but on the other hand those two kits gave me three or four years of actually playing drums before moving up to my first "real" kit; a Pearl Export.
Thinking back on my own start informs a lot of the advice I give up and coming drummers now. If you can hold out a little longer and save up just a little more, I think you should absolutely bypass the low end stuff, especially the
really low end stuff. But there IS value in that low end, even if it is only experience. Experience playing, tuning, going to the hardware store to replace things that strip with the slightest amount of tension, etc. It isn't always possible (for a bunch of reasons) that you can always learn from other people's mistakes. Sometimes you just need to learn for yourself.
And
then go on Craigslist to sell your "lightly used" PDP Roadshow kit and Sabian SBR cymbals for the low low price of $1000 to try to finance getting a better set.