But there's something decidedly obnoxious to me about engineers pulling out their 5D Mark II's and talking about the particular specs or lenses, and not understanding the artistry behind it. You do not need a $2000 camera to take your 2 year old daughter's birthday party photos. PERIOD.
I have a friend who is a true photographer, who just started a photo business specializing in family photos. She has an entry-level DSLR that is about 7 years old, but her photos are amazing and even though I don't know who her customers are, some of her pics make me jealous of them because I wish those were my pics.
Of course there are technical aspects to taking photos, but it's more in lines with knowing the LIMITATIONS or the boundary conditions of your camera and lens combo, understanding the light conditions you are in, and taking photos that match the conditions. A more expensive camera will get you a bigger sweet spot in order for you to take more pictures in different light conditions, but it's like tennis rackets with a bigger sweet spot, it's allows beginners to pretend they actually know what they're doing. My friend has take amazingly beautiful photos with a disposable film camera that you get from Walgreen's or CVS. You can get amazing photos from point and shoots or even your iPhone, as long as you have a sense for what pictures you can take.
But the more important aspect is developing an eye for what is truly a great photo, and a moment that needs to be captured. Some of the world's greatest photos were taken on cameras whose resolutions were dwarfed by the iPhone, so technology isn't really the deciding factor.