I’m fortunate to have found the right camera and lens for me, with the former 50-years-old and the latter 60-years-old. Desire no other kit, digital or film, old or new. Well, actually, a mint Leica M2 Luftwaffe outfit would be swell, but even if I could afford it, I probably wound’t use it, so what’s the point!
It’s like airfrogusmc said, find the gear that fits your needs or desires; photography allows for simple to complex, ancient to modern. If you need technological advancements to best attain your objectives, that’s understandable, and I think most people (even diehard “it’s the photographer, not camera” advocates) recognize this. But sufficiency is going to greatly differ with different photographers; this is not a an objectively measurable pursuit like racing cars.
So absolutely, gear can certainly be important, but this importance is NOT correlatively linked with technology and cost. For me, ergonomics is a crucial consideration.
But ultimately, if one is not currently adept at photography, the latest and most expensive usually isn’t going to ameliorate one’s visual deficiencies. That is, clean 1.5 trillion ISO doesn’t matter if you suck. And I think this is the point that the OP is stressing. No doubt, for some, buying up is necessary for their style of photography. But buying up is not going to buy skill.