obviously it is ! As long as your cue is straight and with a decent tip, you don't need anything more to play good pool .... To play at professional level I'd add a break cue and a jump, but really nothing too fancy !
This game is 95% player and 5% equipment !
Anyway I dont think that who buys expensive equipment really thinks that it will help to become a better player... they simply enjoy owning beautiful pieces of wood, just like car's and bike's enthusiasts ! I'f you think that a 3000 $ or 30 $ chalk will make you win games you are just a fool :thumbup:
It's the same way in every sport: I've raced with enduro bikes for 10 years and there were plenty of guys with 10000$ bikes + 10000$ of accessories that think that having a good bike is making them fast, but its not

and of course when they got beaten they said it was they're bike faults (oh no the suspension were too soft/hard, my engine was too soft/brutal, etc...

)
Every sport is about the man not the machine, although the equipment stands in different percentual importance by different sports, for exemple : 0,0001 % athletics, 5 % pool (or tennis or golf), going up to major relevance in motorsports ...