Kind of. The "Saturday Night Special", a racist term for a cheap handgun, generally refers to a Hi-Point or similar cheap polymer pistol, and used to refer to inexpensive revolvers. An heirloom may be a nice bolt-action or a Colt 1911 from one of the World Wars. Most modern guns are very good, though, especially compared to even 20 years ago. The Sig Sauer P365 is a great example, fitting 10+1 rounds of 9mm ammo into a complete package that would have barely fit 7+1 of .380 just 10 years ago.