It'll take some time to really get a proper impression, but so far quality definitely surpasses their price.
Right side is a little weak, but that might just take some breaking in. The mids are muddy and the lows are a bit anemic (they seem to over-modulate a bit as well) - hopefully those issues too will improve with time. If I had paid $50 for these I'd probably be disappointed, but for the price I can't complain much. An absolute upgrade over, say, iPhone earbuds in terms of sound (no mic or controls, of course). Also, the microphonics issue isn't gone completely in the new pair... They're not very comfortable but they're fine for short (<2 hours) listening sessions.
Bottom line: they're worthy of their hype on price alone. In the under-$20 category, they're a solid pick. But I don't see them beating more serious options.