Yes, is the answer, I believe. I came into some cash, and I used several thousand dollars (US) to explore and learn about single-malt scotch. I have found several good scotches for as little as $40. Highland Park 12, Caol Ila 12, Bunnahabhain 12, Talisker 10, An Cnoc 12, Glen Garioch 12 are all excellent values.
Wondrous offerings under $100 include Aberlour A'bunadh, Jura Prophecy, Lagavulin 16, Laphroaig 18, Glenfiddich 18, Glendronach 15 "Revival". And there are many others.
The most I spent for a 700-750 ml bottle was just over $300, but I've had samples (30 ml) of distillations in the $500-600 area.
My observation is that---as a generalization---the more you spend, the better the quality. Stunning observation, eh? However, I'll add to that that while the quality certainly tends to improve as you go up the expense chart, there are exceptions, bottles that are incredible at lower prices, and boring offerings for over $200.
The other thing I'll suggest is that if money is a big concern, go for value. I absolutely adore my Bunnahabhain XXV, but I can buy five Bunnahabhain XII's and still have money left over for what I spent on the Bunnie XXV. But if you can afford to blow a few dollars, you will be able to experience some complex whisky flavours that just aren't available for under $200.
And don't forget the samples. This is not a value-laden approach to whisky, but it will enable you to explore expensive whiskies for prices you can afford. There's another thread
concerning where to get samples.