I honestly don't see what the big issue is. Yes, I love my pets. Yes, I want the best for them. But I'm not going to spend a ton of money paying for 'better' food for them. When I was young, I ate plenty of stuff that wasn't at all healthy for me. My mom was a single mom until she met my step-dad, so money was tight. She'd buy the cheap junk food, and we'd eat it. It didn't kill me, and it didn't hinder my growth in any way. Maybe it wasn't the healthiest, but it had no serious ill effects; in fact, I don't think it had any at all, as long as I remembered to exercise often enough.
If the food were really that bad for the pet, they wouldn't eat it. If it was really all that disgusting to them, they'd refuse it. My cat has turned down certain brands before, and so we bought her new ones that she approved of. You just have to find the right match for your budget and your pet.
Besides, why would you even base the quality of pet food based on our human tastes? You do realize that animals, when living in the wild, eat raw meat and such, correct? We would be appalled by that, but they like it. Just because something tastes horrendous to you doesn't mean it tastes bad to your pet.
