1911's

that's nothing tbh

it's a budget gun. you get what you pay for.

Let me rephrase that.
Along side a basic bitch GI model, history and such aside, can it compete?

What do you mean by compete? Against the GI Springfields, R1's, etc, it will probably function just as well. The main thing you have to worry about is accuracy. Cheapo guns looking to run the gamut on an industry will shoot fine, unless it's horrible garbage like Taurus, it's the accuracy that is the problem because they're off spec because they're simply not made with the same level of care because they want the price to be as low as possible.
The only difference in cheapo guns these days is AR-15's. Certain cheap AR-15 parts can still be really good because that market has been so insanely competitive.

I kind of have difficulty explaining what I want out of it, since I've never had one. To put it simply, when I mean compete, I don't mean some super accurate super duper "high quality" gun. I want something reliable, inexpensive, and powerful. Something I can use and abuse for years, and not be absolutely fucked if I lose it. (Eg, used in self defense and ruined/never returned by police, or stolen by someone.) Reliability, simplicity, and rugged. Like muh Ayy Kays it'll be paired with. I plan to use it and abuse it. Innawoods/survivalist conditions. Not some bench queen chris kyle approved punisher skull goatfucker supershooter™ 1911 with rails and custom pieces. Only 3000 Mcbucks, includes free 563%er, oathkeeper, and I

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I would just get a GI Remington R1 then. They were going for $400 this past black Friday, may still be that low. They're good. Very accurate for a budget gun, I've shot one a good deal. Only downside is that the finish runs off a bit easily, but that's how it is with budget guns.

Looking about $500 right now, which isn't bad. I'll look into getting one, thanks strelok.

Just to give you some info on the 1911. Its a good gun, just finicky. You will need to care for it a bit more than a Glock or some other wonder 9. Lubing it is very important as are quality mags. You're going to want to test every hollow point round you plan on shooting through it (HP ammo can have issues with the feed angle).
Other than that have fun bro, home you end up liking that Remington.
Magazine recommendations.