It's always difficult to judge from a sample size of one. Some take our apparent loneliness itself to draw conclusions about this subject, but that's a difficult proposition as well since there are so many different factors imaginable - any of which could be responsible for the Fermi paradox.
I think science and technology are probably required in all cases where a species is to transcend the confines of its evolutionary heritage. It may well be the case there are many more species out there with vastly greater innate intellects than ours, but at some point they too have to use tools of some kind to grow beyond the limitations all bodies inevitably have. And it's not just about overcoming specific obstacles, it's about acquiring the meta skills necessary for intellectual and mechanical self-extension. The basic argument here being that minds without science and technology are still in a primitive state, regardless of their innate capabilities.
But it's also not difficult to imagine a civilization where tool use doesn't exist or stagnated at an early stage. However, if the opportunities for this type of advancement exist, it's only a matter of statistics over time in order for development in this direction to occur.
Whether we are in a privileged position to enjoy these opportunities is an open question. We are lucky in some respects: our planet has a large land mass, somewhat easily exploitable mineral deposits, easy access to energy, relatively stable weather conditions, and so on. On the other hand it's certainly possible to imagine planets where conditions might be even better. Or worse. All things being equal, it has always been a good bet to assume we're close to the average.
So to address the issue of hyper-intelligent cephelopods without space technology, yes, that's certainly possible. In fact, we're also not a species that colonizes space. We could, but we don't. Hyper-intelligent cephelopods could likewise have a culture or genetic disposition not to develop advanced tech or go to outer space.
You could argue though that in these cases (which includes ours for the moment) low-tech states are likely to be transient. Specifically, since Earth cephelopods are already tool users right now, it's difficult to imagine they'd stay without technology for long.