In Australia we have a brand that i think is very similar to red cat (maybe evne just a rebranded company), here we have HSP. It's basically a cheapo rc car. Horses for courses is what you need to be thinking of.
If youre going to race then i'd probably stay well clear from them. That being said there are a few people who start off with them and then get better cars, but what's the point in spending the 300 bucks for no reason?
For bashing i think they are well worth it. I have a 1/10 monster truck for bashing, and my hyper 9 buggy for racing. When my friend crashes the hyper 9 at full speed into a kerb it costs near on 30 bucks to fix the damage. When doing the same thing in the cheapo monster truck, it costs close to 13 dollars... posted. The low quality of the stuff is awesome, just yesterday i made a nice banana out of the chassis on my cheapo car... a bit of heat and some beating with a hammer and it's all good.... i'd never even think of doing that with a proper race buggy.