HDMI is a digital cord. Your bits don't 'go rotten' / 'or horribly degrade' on a cheap cord. Even if it as analog it wouldn't matter that much (In many ways it matters even less). The only reason(s) to go slightly more expensive is that the cord MAY BE slightly better physically put together, and it may last a little longer. Beyond that, there is no, as in zero, reason to buy a more expensive cord. If you ask at a Futurshop or Best Buy, they will always steer you toward the most expensive cord they can sell you. It's a crock of shit.
That goes for all cables / and cords. Personally, I'll go one notch up from the bottom, just to get a little better aesthetics and construction... But there's no real reason not to go "Cheapest possible that meets the minimum spec / version if there is an actual standard".