Is this just a cheap bass or is a hondo 80's p bass?

The neck looks like at may be one piece. If that is the case, it is not a "cheap" neck, or a stock Hondo or Lotus as maple fingerboards on almost all inexpensive basses other then Squiers are separate pieces of wood, and don't have the "skunk" stripe over the truss rod in back.

On a side note, last summer I was in Mexico City and saw a jazz player (doing an afternoon outside gig in front of restaurant) playing a bass with what looked like a Fender P bass but he had a short scale, fretless, 60's Framus neck on it. Since it was fretless, if you know where the intervals are for the scale and disregard the side dots, the bass will play in tune. Maybe he had the body that the neck came on!
 
That bridge is exactly like the one I had on my very first bass, an Epiphone AccuBass back in the mid 90s.

If it's an epi AccuBass it is plywood. However I've never seen an AccuBass in that color. Only seen black and white. So, it might be a body made by the same factory that the Epiphones were made.

See pic of one on Reverb right now.
Screenshot_20190630-191539.jpg
 
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I had a hockey stick headstock Korean Accubass, and it was string though. It had the same giant brass bridge. Great bass for the price.

The biggest problem with that bridge is that the steel saddle adjustment screws tend to seize inside the brass saddles.
 
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The neck looks like at may be one piece. If that is the case, it is not a "cheap" neck, or a stock Hondo or Lotus as maple fingerboards on almost all inexpensive basses other then Squiers are separate pieces of wood, and don't have the "skunk" stripe over the truss rod in back.

Some Hondos from the early 80s - which I believe this is one of - had a solid maple neck with a skunk stripe. My old Explorer-themed bass and many others that I've come across also sported the same bridge as this P-clone.