You generally get what you pay for, and I swore off cheap optics years ago after having several frustrating experiences. Some people swear by one cheap sight or another, so there's a different opinion.
The optic in the photo is absolutely not a holographic sight-- there is no laser window in front of the "lens" and you can clearly see the reticle projection point at the back (shooter's end) of the sight body. It is a reflex type sight.
A holosight works by shining a wash of laser light through a hologram, toward the shooter, thereby displaying a "laser transmission hologram", which is a completely different technology. The physical structure, as well as the obvious coloration imparted by the lens, are dead giveaways. (a hologram looks no different from a standard piece of flat, clear glass until you shine laser light through it in a specific way at a specific angle)
I don't know what is meant by a "low eye strain" red dot sight, because I have yet to see one of them there "high eye strain" sights that are implied by the term. I suspect the term to be the result of a desperate need to "say something nice or exciting" about a product, when the person doing the promotion hasn't the creativity or technical knowledge to think of anything else.
One way to look at it that you can blow the 100 or fewer bucks on the cheapo, and when it fails to satisfy, you've only added 20% to your eventual purchase of a high-end unit. (Disclosure: I sell high-end optics as a part of my profession, which consisists mainly of mechanical design)