When I hunted in NFLD I didn't need much more than a Honda Big Red to get through the bog. I used waterproof boots, rain gear, a rifle, bullets, food, and matches. Now living in the NWT, My gear requirements are MUCH DIFFERENT. I now worry about freezing to death, and the elements are
100X less forgiving than my home province. I think that the quality of the gear you "have to use" depends greatly on the environment you hunt in. My clothing for a hunt here easily runs over 1000 bucks. While in NFLD, I could get by with a cheap Canadian Tire survival poncho and $10 rubber boots. I got locked in a meat locker for 15 minutes in NFLD and the temps were still alot more comfortable than they are here in the NWT on any average hunting trip. I do think that there is some "status seeking" with SOME hunters when they buy the best of the best, and I believe that some hunters think that if Mr so and so see's me with a $3000 custom rifle "I must be a good hunter to spend that much on a rifle" but the way I see it, he spent $2200 more than they needed to to bag that moose. Custom rifles are great on the range for punching paper, but cmon, does that 1/4 MOA really need to be bought for 2200 dollars. A kill zone on any moose/caribou/bear that I have ever seen is much larger than 1/4 inch. Hunting shouldn't be a fashion show, but I guess, if you are wiping your a$$ with 50 dollar bills, why not waste more on overpriced gear. Its your money, spend it how you like, I just prefer to spend mine on my wife and kid. If I can get the same amount of animals by spending 1000 and you decide to spend 4000, good for me, good for you.
More guff, less fluff.