I bought a bike for 1000€.
Then I put another 500€ in parts and several days of work into it.
It has no motor, no suspension, no freewheel, 1 gear, 1 cheap rim brake, and a bell. And it's the best value for money of anything I own.
1 gear (with a ratio of 39/17) limits me to a top speed of around 37 km/h (23 mph), and on the other end, a 10% sustained slope uphill, or a short 15% burst.
Which is fine by me, and more than most people I know do with their geared, or even E-bikes.
It's actually surprising how little difference gearing makes in practice.
As for why I think 1 gear with no freewheel is better, that's kinda hard to explain if you haven't experienced it.
Best explanation I can give is: I can pull my bike out of storage after 2 years, pump up the tires, lube the chain and go ride.
I can slow down by pushing back with my legs, so I need the brake maybe once a week.