I am pretty sure that is the same as mine, altho the one I have is the next size up, I think.
There is no reason for there being a problem, in the last 50 years I have worn out 3 Presto cookers/pressure pots.
The price is about right, as 30 years ago, I paid over $30. for mine.
I keep the old ones and use them as a frying pan, they are heavy and do a fine job, if you have lots to fry, as in a stir fry or several pounds of meat to brown, as in hamburger meat, to put in the freezer.
Next get a cheap bread machine and a crock pot and the new world opens up to you.
Food is no longer a matter of meat and potatoes, but you get to smell it cook.
You can spend a lot of time playing with food, or put it in and go do something else..........LOL, I am the “go do something else” type of person.
One of the real ways to re-coop your cost, is to save all the bones that you cut out of meat, toss them in the freezer and when you have a mess of them, pressure cook them for an hour or so and add herbs, onions, garlic and make your own stocks for soup and gravy.
Ask your butcher, for bones, “dog bones” works, even the local supermarket, would sell me a flat piled high of dog bones for a dollar, when I still cooked a lot...........
Even baked chickens bones are saved and boiled for stock.