Are sheet sets worth the time to sew with? Sewing Machines Parts and Sales in Los Angeles

I was looking around a discount/overstock store today and noticed sheet sets (flannel, jersey knit, microfiber, etc) selling for less than I might pay for a single yard of same fabric at a store like JoAnn or Hancock. New, unused, in factory package. Seems like a great deal to try out ideas on cheap fabric.

Is there a catch here, something I’m not aware of? Is the fabric from Pakistan and similar places of adequate quality to make t-shirts or shorts or lightweight loungewear? Or pillow covers, napkins, or curtains? It may not be the best quality in the world, but frankly a lot of the material I have brought home from the big retailers isn’t that great either.

Can anyone who has actually tried this care to comment?