Fully agree with you, Dennis!
I have shot campaigns and have been published internationally with photos that I have shot with my old and trusted Nikon D70s, a 6.1 MP camera, which I used since 2006 (purchased the D70 in 2005, moving from film into digital)…, until I about two years ago, when I upgraded.
Nobody ever questioned the camera, because I delivered… The cameras I am using now (both purchased USED!) do have a higher and a significant higher MP count, but that’s because clients demanded a better performance in low light conditions and I shoot high end real estate for print as well.
However, I do see the importance of the rich dentist buying the latest and newest gear, hoping to shoot better images, because those kind of people put money into the pocket of the camera companies and helps the professional to keep the costs “lower”… it’s my experience that pros also upgrade once in a blue moon, while the enthusiast pours money into their hobby and passion… as a never ending pit.
You must be familiar with the adage of professional photography… if you want to know about the latest gadgets and developments… you ask an amateur… :D
In summary… as you have so eloquently stated… you don’t need all the latest gadgets with the highest and most modern technology, if you know what you are doing.