Yes. Crappy wet > fancy high-quality dry, any day of the week.
Kibble is just so very detrimental in the long run for cats, especially for their teeth, gums, and kidneys.
You've probably looked over the sticky on this topic, linked in this forum, but just in case:
I personally would feed my cat Fancy Feast Classic (actually grain-free, and cheap) over Orijen kibble (or equivalent fancy-schmantsy kibble).
Even if a kibble has "meat" in it, it's still mostly carbohydrates, and cats need very little carbs in their diet.
The only reason I might choose a high-quality kibble over cheap canned (if I had to) would be if my cat had grain/food allergies and I couldn't find canned food without said ingredient.
Honestly, though, in my experience, high-quality kibble is EXPENSIVE. Maybe not as much as a good grain-free canned food (on a per-meal basis cost) but I think "good" kibble is still pretty pricey.
As a quick and dirty example on Chewy.com -
A case of 24 cans of Fancy Feast Classic (beef & poultry flavors) is $12.72, which equates out to 53 cents a can. Granted, the Fancy Feast site recommends 2-3 cans per day for a cat of 8 lbs, so total daily meal cost is around $1-$1.50.
A 15-lb bag of Orijen Regional Red Grain-Free Dry Cat Food is $73.99. Orijen's website recommends 1/2 cup/day for a cat of 8 lbs, so this comes to a cost of $2.46 per 1/2 cup, which means a daily meal cost of $2.46.
It's around $1 difference, which seems fairly small in light of the issues that kibble causes in cats. But I know over the lifetime of a cat, even $1/day can add up.
I think if you are truly in a non-hypothetical situation where you are on a strictly limited budget, you'd be better served searching around on online retailers for coupons/deals and try to get the best wet food you can, as cheaply as you can.
The bottom line is, in my personal opinion, I'd rather feed my cat the trashiest Friskies canned over the fanciest Orijen kibble. I destroyed my childhood cat's health with kibble because I had no idea. She's on a raw diet now, but the damage is irreversible. If I ever get another cat, it's never gonna crunch a single kibble during its lifetime with me XD