I don't remember DVD players being this cheap......

The last DVD player I bought was a Phillips for $29.

5?? years ago I bought several DVD players new for under $15(of course they were junk and crapped out within a year or two). While those were Black Fridays specials you could still get somewhat name brand players for under $30. Heck my first BD player was a Element, 3?? Christmas seasons ago for $49, of course I returned it a few days later because contrary to popular opinion of the time, not all BD players outputted the same quality....even for BD discs, DVD output was even more atrocious.
My guess is rock bottom BD players will level out at about what similar(upconverting) DVD players did. Unless another physical media comes along(doubtful) my guess is BD will trudge on while new DVD like VHS all but disappears.

There were tons of cheap DVD players six years ago. It was just that DVD adoption had peaked and Asian companies were churning out tons of players to be sold under various names in third-world countries where DVD was taking off.