At 80$ (or anywhere in the 100 and down range, really), any instrument that you can actually play and have some fun learning a bit on is worth that, in my opinion.

I think it is better to start on something inexpensive, if you have to, but get started.  Waiting until you can afford something better, for a lot of people that will risk losing interest or never actually getting around to it. 

If you start on a very inexpensive instrument, even if it has some flaws, you can still at least learn some.  Then as you find out what it's problems are, you can get something a bit nicer later, because you will have a much more informed idea of what you need.

You can always give the old one away to get someone started if you eventually upgrade, or take it apart and see what you can learn from trying to fix the problems it had.  Or heck, do both!   How is that a loss, really? 

For all that one sees negative talk about the cheap violins/fiddles available, I think they have probably done more to get people started playing than anything else.  People see them and maybe daydream on it a little and then think "Well, I can afford that.."  So they buy one and usually it will at least be something they can work their way through learning "Twinkle Twinkle" or whatever on.  By then they know if they are having fun and if it might be worth spending some more bucks to get something a bit better, or maybe they get lucky and find a used violin that isn't too bad going cheap used. 

I saw somewhere once someone saying that any violin that cost less than 500$ was a VSO (Violin Shaped object).  You wander around violin and fiddle forums and you'll see that term tossed around a lot.  While I can see where it might be possible that there are items sold as violins that are not playable even for beginner exercises and can't be made playable, *most* of what is out there in the inexpensive ranges *can* be played and will benefit from a bit of work, if you want to ask a lot of noob questions and learn a bit.  I think the "VSO" talk is mostly a load of crap.  Would we think of a car that cost "only" 11,000 USD brand new as a "Car Shaped Object", rather than a car?   I mean sure, you can't expect Maserati or Lamborghini performance out of it.. But does that make it "not a car"?   

How many everyday folks are going to spend over 500$ on a pound of wood, just to see if they can maybe start to learn to play it and have some fun trying?  That sounds pretty crazy to me.  Maybe I just live too low in the income tax brackets, but if I hadn't been looking at 40$ violins on amazon and ebay, I probably never would have gotten around to actually trying to play violin.  I ended up spending about 80$ for my first violin, which was the cheapest electric around at the time.  I don't regret it or consider it a mistake. 

Anyway, enough "preaching".  Hope you have fun learning on your MV400, Watchtower68.  I had good fun for about the first 6 months with my MV300.  I never really say anything bad about that instrument, since I got far more than 60$ worth of fun out of learning on it and working on it a bit.  Then it felt reasonable to spend a bit more to get my current acoustic, since I'd put some work into learning to play a bit and it seemed likely I'll stick with violin for a bit.  It also wasn't real expensive (about $160), but was put together and set up well enough that I still haven't found anything serious on it that I feel needs fixed. 

Sounds like you're off to a good start.  Anybody wants to say anything bad about your instrument, tell them they can kiss your.. tailpiece.  Yeah, that's a good word for this family-friendly forum.

LOL