Other than perhaps some use in doctors without borders, the only really useful brain activity that could be recorded with anything close to $30 worth of tech would be during sleep.
I had a few sleep studies several years ago; the electrodes were really not comfortable because of all of the wires. If that $30 sensor could be hooked to an iPhone and came with 8-10 reusable wireless electrodes (though hopefully it would only take 2-4) that were comfortable to wear while sleeping- and in the morning it could give me the amount of time in each stage of sleep- that might sell.