agree with nate on this one.
Having budget options is nice. High value, good quality budget options that fit your needs is even better.
If the endpoint is focused to stringently on a arbitrary total sum, you may end up sacrificing some of those high value options that align with your needs over something whose main attribute is a lower price.
Depending on how you look at it, that isn't necessarily the best deal in the long run.
There are lots of YT videos on this theme, at different price points, and I just don't see the value. IMO it would make more sense to focus on individual items, because most people aren't starting from scratch (there is probably a pen or wallet or something, laying around somewhere) and we all prioritize the importance of each item differently.
It's a more likely scenario that I already have a half decent EDC, but one or two items are missing or just not working very well for me - then it makes sense to look for just those, within your specific budget.
With all that tangential TL;DR said, most of that EDC would work just fine for me.
At some point, probably sooner than later, I'd have to switch out the knife and "wallet". The ones selected just wouldn't work for me. It doesn't have to be expensive, but I need my folder to be slim, lightweight and one hand operating (preferably a mid backlock) and a proper wallet with some organization.
Just for the mind exercise, I threw together a budget EDC that would work well for me. Not sure about the price exactly, but quite affordable.
Watch: Timex Expedition Scout (bought it some 7 years ago as an affordable, low risk "test drive" when I got interested in watches, just to see how I'd like a field watch and figure out my preferences size wise).
Wallet: No idea what it is. Generic leather wallet from the family's overshoot bin. Probably a gift or giveaway or something that nobody really needed or wanted and has been floating around ever since. Looks decent, but if I were to use it, I'd remove the snap closure to slim it down a little.
Knife: My sons Spyderco Manbug that I got on a crazy 50% off sale at Lamnia. Though I prefer a Dragonfly, I'd get by with this. Handles and carries much the same.
Prybar: CountyCOMM 3" thing. This is the one I actually EDC, so it's a very realistic option. Also very affordable.
Flashlight: Maratac AAA (maybe the same as the OP?) Well made and affordable. I even used to have a more affordable option, an Olight i3e that I got for free, but I gave it to my son. A simple but well made, super compact option that I carried for a good while myself.
Pen: Pilot super grip. Stolen... ehh, I mean borrowed from work. Probably very affordable. I believe it comes with a G2 cartridge, either way the writing experience is more than adequate for me even if the plastic makes it feel a bit cheap. I don't always carry a pen and if I do, I carry one made from metal rather than plastic, just because I have that option, but I regularly carry the mechanical pencil version of the Pilot Super grip, so I know it would work well for me. The plastic pocket clips are notorious for breaking though.