I suspect that this thread may garner many pages.

There are many great successful photographers that have had academic training. There are many bad photographers that have many letters after their name and can quote every photo-technical theory chapter and verse and take lousy pictures.

There are many self-taught photographers that do superb work and probably as many self-taught photographers that should have gone to school in that they developed bad habits and never learned the basics.

There are many imaginative ad creative photographers that have incredibly great and ambitious concepts but don't know how to execute any of them.

Every serious craftsperson, professional or amateur wants the best tools to work with. Inferior, inappropriate, or malfunctioning tools can hamper even the most talented and savvy worker. There is, however, a misconception among some unsuccessful photoghrers, who are unhappy withte results, that an upgrade of equipment will solve their issues where in reality their deficit is in their faulty technique, a low level of skill or lack of "education" whether it is self-acquired knowledge or that gained in an academic setting. Makes no difference- they just don't know what they are doing.

There are cases where the photograher is experiencing an equipment-based issue that is holding him or her back in certain aspects of their work and a new lens, light, camera or another accessory will solve the problem. Some things can't be improvised worked around so out comes the piggybank!

Sometimes overly complicated and complex equipment becomes a deterrent to improving technically or artistically in photography. Too much automation can get in the way of learning necessary rudiments. Sometimes too much gear gets in the way between the photographer and the subjects- too much fumbling around can be a distraction.

School vs. Self-teaching? I consider myself fortunate that I did have some formal education- so I have some "wallpaper" and some basic theory to fall back on for problem-solving. I served as a military photographic specialist so I was forced to take certain specific training. I like to keep up with current stuff so I have always taken seminars and classes from time to time. Nonetheless, what I have learned on the "street" and on the job is knowledge and experience that I could not have attained in a classroom or from any book or tutorial.
I am certain I could have learned a good part of the theory by trial and error and experimentation but oftentimes just taking in a class or doing some old-fashioned book-learning can save a heck of a lot of time and money.

One thing I can tell y'all as a long time teacher and trainer- NO ONE can teach talent- you can only inspire your students and trainees to utilize the talent that they have and give them the mental tools to work with. A good teacher does not want to "clone himself" and produce "disciples" that adhere to his or her own style and philosophy. Too much of that is ongoing so you have students and fans practicing "idol worship" instead of developing their own styles and skills.

GAS? Gas can be painful- as a kid, I ate 4 cans of baked beans and the pains were so intense I was convinced I was having a heart attack at 15- years old-. A bottle of pop made it worse and I thought I was gonna explode. A good friend of mine taught me how to make Arroz con Gandules- real rice and beans (well actually pigeon peas) recipe- YUMMY! the starch in the rice absorbers the gas!

OK- some folks approach photography like stamp collectors, or coin collectors, or sports-card collectors and just NEED to have the next new whatever to complete their collection which is never completed. They have the right to enjoy their gear, so if the can afford it- more power to them! The manufactures and the retailers have to make a living and the market has to be there to supply them with revenue so the can continue to make advances in all the stuff they bring us.