Didn't miss it. You said inexpensive and low-end. Can't get much
lower than a rake that you power yourself. Plus you didn't specify how
big a lawn we were talking about. For a small lawn like most of the
new homes I see, this would be a one-hour job.

That said, somebody used to sell a thatch rake that was built like a
reel mower. Not powered, but still an improvement over a rake. I
thought it was Lee Valley, but I can't find it on their site.

Honda's mini-tiller also has an attachment for de-thatching, but your
getting back into the 400 range.

Since this is a tool you generally don't use more than once a year,
most companies don't seem interested in building anything other than a
commercial grade tool. It's also tough to recommend buying something
for once a year use (although find a good deal on one and I'd consider
it).