thats whats going on in the cheap wood - but notice they have the bridge, neck and pickups mounted into a mahogany block just in the centre of the guitar
so the idea is mahogany tone, economic use of premium guitar wood and also a much lighter instrument.
not a bad idea really but the outer wood does have an effect so it wont sound like a chambered or solid mahogany guitar, but it doesnt mean it will sound bad either