Yeah true true... well, in this material world many of us think that it is the material goods that define who we are, forgetting that we ourselves are the ones who define who we are. I was asked once regarding a question similar to this...Actually, its both the machine and the person. To have one without the other will not work.
Put it this way, a person can be the richest person on this earth but if that person has a horrible character, all the material goods in the world can't deny that the person is a horrible person.
It's a sad case, even I have to admit I do fall into the trap looking at the newest DSLRs and so on, but then I look at these photographers who still shoot with old equipment and they make stunning pictures, it brings me back to reality.
We all chase the next best thing... it's just economics.