I've generally found that higher quality hoes are pointless. You only need it to initially till the farmland, you don't need it to harvest. So if you can keep the mobs from jumping around in your garden, that first wooden hoe should last you a lifetime.
Some of us like large farms so we can get all the food or whatever we need for a week or so with just one harvest, I've worn out several stone hoes.
That said it's no problem to make a new one when you need it, if I don't dump my hoe in a random chest before an expedition I'll drop it off as soon as my inventory starts filling up so I never have one when I need it anyway.
You can have a cheap hoe or an expensive hoe that needs diamonds, but in the end a hoe is just a hoe and all of them do the same thing, though diamond hoes might look nicer. If all you need is to get the job done then save your diamonds for something else.
When a stone hoe will last you just as long as a diamond hoe, what's the point of the diamond hoe? Even if you have chests full of diamonds it's still a waste. The only time I ever make a second (or third) stone hoe is because I'm starting a new farm at a new base and don't want to trudge back to get the old one.
Now if you had to use the hoe to harvest, that would be a different story. But you only use a how to initially till the farmland, and never use it again.