I guess you refer to the HUGO / red label. Not necessarily the cheapest. Usually above orange label (casual) and bellow the selection and black.
If you're in your 20s (or even 30s) you might like it for the very slim fit. I like the jeans, shirts, ties, belts. Most of the stuff is however really fashion oriented, either the fabrics too shiny or a bit kitsch...
Hugo Boss has two brands...Boss, Hugo Boss, and Hugo, Hugo Boss.
Black (classic), Selection (more formal), Orange (leisure), and Green (golf & sportswear) are all under the Boss brand.
Hugo (red label), is a trend/fashion-forward brand that does much better in Europe than in NA. While its target market is a younger client overall, I would definitely not say it is cheaper...in fact, I'd say it's generally more expensive than most of the Boss brand. I would not equate it to Armani Exchange vs Armani. Being a trend label, designs change wildly over seasons....you'll either like it or you won't.
Baldessarini, before it was sold, was a third brand, targeted at the mature, more laid back, confident man.
But I imagine things are a little different now, then when i worked for the company back in the late 90's - early 00's. I appreciate the product from a company philosophy, more than a simple analysis of the designs/fabric/construction standpoint. It's very....German.
Do you watch much Fashion TV? Glen Baxter has been dressed by Hugo for years. If you like that look, then fine. Otherwise, a classic Boss suit fits well, without being too slim. Despite purist thoughts on quality, etc, I always found any man looks quite good in a classic Boss suit....not to this...not too that.