Heat 2 tablespoons vegetable oil in a large skillet over medium heat.
Add the finely minced onion and a pinch of the salt; cook, stirring occasionally, until the onion is translucent, about 3–4 minutes.
Stir in the minced garlic and cook until fragrant, about 30–60 seconds.
Add the ground chuck, break it up with a spoon, and cook until lightly browned; drain any excess grease.
Add the sliced hot dogs and cook until heated through and slightly browned, about 2–3 minutes.
Stir in the banana ketchup, tomato puree, and tomato sauce until combined, then add 4 ounces water and reduce heat to low.
Simmer the sauce gently for about 10 minutes, stirring occasionally.
Taste the sauce and add up to 2 teaspoons sugar if it tastes too acidic; adjust seasoning with the remaining salt and pepper to taste.
While the sauce simmers, cook the spaghetti in a large pot of salted boiling water according to package directions; drain and return to the pot.
Plate the cooked spaghetti, top with the meat and hot dog sauce, and sprinkle with shredded easy melt cheese before serving.