Seiko was never especially known for the precision of their mechanical movements. They were known for making decent watches for very little money. But they've now cast off the low end of their offerings entirely in the past few years.
Instead, they now sell their basic movements to other manufacturers.
So I'd argue if you want the best bang for your buck, buy a microbrand watch.
They often offer unique designs, great finish and build quality, with a reliable basic movement for less than a current entry level Seiko.
And if you want to go really cheap, the bigger Aliexpress watch brands have honestly become really good as well. I just dislike them because most of them don't have their own designs, but just copy that of a popular Swiss watch.