I guess you meant "J-20" instead of J-31 in your post.
I agree with you that I don't think J-31 would be cheap enough to be counted as cheap compared to J-20. That excludes J-31 to be the Lo in a Hi-Lo mix. I am inclined to believe that in the PLA's view, the Lo is the 3rd (4th in US/Russia) generation fighters. This is a view held by everyone in Chinese BBS except J-31 lovers from my observation.
The idea of a Hi-Low fifth-generation aircraft composition for China is really appealing, and makes a lot of sense - in theory.
The reality is different. The key question to answer is at what cost/performance ratio would it start to make sense to have a J-20/J-31 mix than simply going for an all J-20 fleet. Would PLAAF be willing to settle for a "low" J-31 at 75% of the cost and under 50% of the capability, respectively, of those of J-20? To be more specific, I think the real challenge is China does not have a suitable high-performance medium thrust turbo engine in the foreseeable future.