If it makes you feel any better, I wish I had the 5DIII. I love tech and love having the latest & greatest... but it has nothing to do with "showing it off".
I don't even have a gear list... and I have a respectable spread of gear. I'm fortunate in that regard, and I put a lot of time and effort into deciding what I am going to get and why.
Regardless, it is the photographer who ultimately decides if the image is going to be worth a damn. Once you have enough talent to take a good to spectacular image, the gear kicks in and gives you an edge with better IQ, more pixels to play with and the technical ability to actually pull off the shot. I'm like Dwight in that respect... I prefer to have equipment that is better than my abilities. That way I always know it was I who could have done better. Besides, if you can afford it and it makes you happy, why the hell not have it. 
Not to point out the obvious, but I don't believe anyone in our group is the "show-off" sort. I don't really think they would fit in, as there isn't really room in our group for superficial 'tards like that. No one in this group (thankfully) cares how big your "anything" is. We have much more important things to discuss like politics, religion, guns, cameras, naked ladies, clothed ladies, tall ladies, short ladies, ladies in general, um, I know there was more, but I seem to have gotten stuck...