bacon, where I get it from, is 10 dollars a pound! (it's pastured).
i can get sliced pork belly for 7 a pound. Does that taste like bacon, and would it be good to use? or no. Also, what would be good to do with fatback? besides render lard.
Pork belly wouldn't be as salty and delicious as bacon. You can make your own bacon with it though! Basically, you cure the pork belly with a salt/spice mixture in the fridge for a few days, then smoke it at a low temperature for a few hours. If all that work is worth the $3/lb less is up to you. I want to try it just because I want more control of the ingredients in my bacon and the slice thickness.
I think fatback is used to make some types of bacon (Italian lardo), and the skin, if attached, is what pork rinds are made of.