I think you are being a little dramatic. No, these cheap blocks are not as nice a Mits. But they are servicable. Precision could just refer to the surfaces, flatness and squareness. For me, they are good enough for what I need to do.
But, no, the holes are not matched in a way so you can use a simple screw to clamp them together. A screw into a side drilled dowel would work ok though and are easy to make.