Actually, I've had lots of cheap hooks fail, when I'd bought a batch of them, the whole batch wound up thrown out. I really try to get rid of the junk, and when I pay liquidation $$ for surplus or discounted inventory, I generally expect to not be satisfied. Sort of an ethics issue.
What gets me spun up is when I spend big$$ for flies and they're tied onto cheap hooks that fail when tieing onto the leader, before the first cast. It's happened, and I'm usually a long way from the truck and the rest of my inventory.

Recent history, though, I've had only one failure, and I still managed to boat the fish. A 12 +/- lb Coho pulled a 2/0 octopus hook nearly straight. Got rid of that rig, kept fishin. Caught lots more.. Really, simple as that.
The hook??? Brand V... Talked to them about that issue, and trying to get more of another type, later.
I dont understand all the "flaming" going on on this BB. They seemed ready to please, but when I contacted them I didnt go thru the door w/ an attitude, either. I could probably say more, but why??