There seems there are two levels of rice cookers. You can either get the inexpensive "dumb" models which have no or next to no features. You put the rice and water in and turn it on and it turns off when done. These types usually work very well and do exactly what they say they do, but again there are no extras with them. Then you have the expensive models that have all sorts of settings and features. They will both cook rice, but the expensive models will allow you things like timed cooking and settings for other grains and things like that.
I got my expensive one from credit card points. I would never have bought (or maybe it would be more accurate to say my wife would have never allowed me to buy
) a rice cooker that cost 3 digits, but since it was from CC points it was basically free. Now that I have it though, both me and my wife see the value in it and when this one dies, hopefully not before my kids are out of college, then I will have no reservation about buying another just like it at whatever price they want to charge.