I recently bought an Affinity Thinline from Fender's website (one of the "special edition" colors which I think just means FSR for Squiers essentially). My intent was to get the cheapest body in a cool finish I could to throw some pickups I had laying around in and then slowly upgrade everything till it was what I wanted. Lastly, I planned to get a custom neck made for it and throw the original neck onto a Frankenstein guitar I built out of other old pickups and a body I had laying around. I figured the neck would suck, because that had been my experience with a Classic Vibe Starcaster I had in the past.
There are minor issues like a strange, uneven wide spot between two of the frets on one side of the neck and less than exact fitment of some parts, but that's what you sign up for buying a budget guitar. The hardware obviously isn't the best ever, but that's all easy to swap, and none of it is a bear to use or anything. All of these issues are fixable with a little time and energy (and a small amount of money if you must have fancier hardware), and none ruined the playing experience at all.
In the end, I did change out the bridge because the original wasn't my jam, and it took a 4 screw G&L ASAT Classic bridge without much fuss (it relocated the bridge pickup a couple millimeters forward, which ended up being too much for the tight routing, so I carved it out a tiny bit with a chisel and was all good). I still think I am going to change the neck, but only because I want to try a V profile and different nut width out. The neck that came on it feels great, and will immediately go on another guitar. It is finished slightly worse overall than the neck on my CV Starcaster mentioned above was, but I liked it way more because it is more to my taste. I learned an important lesson from that: these different Fender and Squier lines pretty much all have decent finishing at this point, so you're probably going to find more issues with a neck not being to your preference than to a usable quality. How much variability is in these necks in terms of thickness and profile, I do not know. But the one I got was a perfect profile for my hand - slightly thick C, 9.5", medium jumbo frets.
If I had posted on here about it before buying the guitar, everyone would've probably told me that that bridge swap wouldn't have worked. I believe the prevailing belief is that the cheap Squiers use 3 screw bridges? That might be the case for most, but just like the necks, I think it varies by series and year. It seems like they throw whatever they have around at that factory at the time on these guitars.
I would assume that the lower in the line you go, the higher the chance is that you get a lemon with something inexplicably "wrong" feeling or sounding. Worst case scenario, that's probably fixable with a new neck, though.
I also have a Paranormal Supersonic, but that's sort of an odd bird. I don't get on with the narrow tall frets, but the rest of the neck feels okay enough that I can put up with them. Quality-wise, it's the same story. Little bit better fit and finish overall than the Affinity, but there are still issues with it that fit the price point. I think almost all of these lines are the luck of the draw, but these days the odds are in your favor.
The moral of the story is that if you plan on playing a guitar as-is out of the box, buy something that meets your specs for what kind of neck you like. It's so much harder/more expensive to change that than anything else, and it's the first thing you'll notice doesn't feel right if there's an issue. And then just hope you get lucky and the guy sanding necks in Indonesia that day was making them as thin or as thick as you prefer.