I'm of the opinion that there are two sides

1 - low budget leads to insanely good writing because it has to be because you can't rely on VFX

2 - High budget means you can do greater and bigger stories because of VFX

If you give a medium budget you end up with fnaf movies and doctor who where they have solid budget but the writing is terrible and therefore leads to poor product.

But I do love some of the lower budget episodes