It isn't an either or answer but one based on a range. Equipment makes up for lack of skill in many areas of our lives everyday. For instance, schools are teaching less and less spelling in part because of spell check on wordprocessors. The equipment (computer and wordprocessor makes up for a lack of skill-spelling) Phat's example of bowdrill vs. lighter is another great example. With a lighter,anyone can create the heat necessary to start a fire now, whether or not they know how to make or use a bowdrill, but being able to create heat does not guarantee that you can get or a fire started or keep it going. Will good gear keep you alive if you have NO skills? Probably not. Will good gear make it more likely you servive with minimal skills. Probably. Will good gear increase the odds of survival for the experienced? Definately.
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If I wouldn't eat it at home, why would I want to eat it on the trail?