Well, personally I think that statement sucks too, coz it isn't the complete picture.
However, your race car example doesn't complete the picture either.
Do u think the average driver can drive a 911 turbo and win Mike? There is a huge learning curve to driving a race car; it is not easy! U need proper race car training, practice and all. It is not just about stepping on accelerator and u will win Mike; u need to appropriate skills to negotiate bends, strategies, etc. So Mike will still win with the Cherry QQ afterall, I bet.
However, Mike isn't going to rejoice for winning the average driver with the Cherry QQ. He is a professional race driver seeking to clock a better timing year after year. He expects the best car, best engine, best gas, best tires, best team, and nothing else but the best. But why he can make such demands? Simply becoz he got the skills!
The more sensible advice is: buy a suitable camera/car based on your current skills. There is no point splurging (well, u can if u are rich enough) on a high-end camera/car when you just got into photography or if u just got your driving licence.
Once your skills have reached a certain level, then it is not too late to upgrade. More often than ever, people buy cameras/cars/rackets that exceed their skill levels. If u grow old with the hobby/sports, then it is fine. I do see people give up the hobby/sports halfway and end up selling away their wares. At that giving-up stage, the question of whether the camera or person behind is important suddenly become irrelevant.
I keep hearing this from my frens... super sian
yes we all know the person themself plays a vital role into a good photo.. but ofcos the camera needs to get some credit too...
u go give michael schumacher a cherry QQ and compete with a average driver in a 911 turbo and go track, see who win...
go take a camera phone and u go try to take a award winning photo and see (no heavy post processing ofcos)
I think the correct phase shld be "The person holding the camera is the most important element in taking a good photo, while the rest rest on the gears"