I have a C220 that came with the f3.7 lens. I've never had the need to "upgrade" to another 80mm. I did all of my wedding business back in the 1970s with that lens and a 135mm.
It is my understanding that this was a "kit" lens (for lack of a better word) that Mamiya marketed with the C220 to make the camera an entry level model. That is the only thing "budget" about it - the retail cost, not the quality. (IMHO)
One thing that is a bit odd, however (and it may have been a way of cutting cost, but I don't see how): since the C220 does not auto- @#!*% the shutter when one advances the film, Mamiya did not see it was necessary to put the required mechanism on the F3.7 lens. Fine. However, the cocking lever is on the opposite side of the lens from all the other lenses that go on the camera. It takes some getting used to if you have several lenses (I have 6 of the 7 available focal lengths) and use them all.
At f:3.7, it could even be a triplet - a type which can be very good. The Rodenstock Geronar LF lens is a triplet, multicoated, and damn good.