I usually do not advocate that we buy cheap hosiery, but they are not all bad. Read the remainder of my blog entry for possible uses.
There are times when you will not really care about what is on your legs, as long as something is, and as long as it is long enough. Perhaps you might go hiking. Perhaps you might work in the garden? Do you really want to risk snagging the $20 pair that you bought? I would not. You could wear hosiery when you sleep. When I sleep, I cannot tell the difference between good quality, and bad quality. In fact, you could wear them in a sleeping bag, and under dry-clean-only pants, too.
The only thing that I could wear in place of cheap hosiery is higher quality hosiery that has a snag or run in it. The idea is that nail polish will not save it, because it is is too far gone, and the pair is still good enough to keep the skin oils off of the sheets. To make sure that you could get full skin coverage, just wear another pair with runs and snags on top of them. Make sure that the runs and snags are not in the same place.