I'd have to say frugal. I'm a DIY guy and made my own chiller and a 10gal Rubbermaid mash tun. I thought that I had some "high tech" equipment now and this is going to make better beer. Well I know there is way more high tech equipment out there and this guy I know had the awesome $10,000 setup (he makes 50 gals a batch). I showed him mine as proud as I could be, he laughed and said good luck trying to make consistent great beer. While I initially was taken back I shook my head and offered him my house IPA. He drank it without saying anything till he was finished. He came up to me, shook my hand and said that was one of the best homebrews he has had in a long time. What's your recipe? I told him $160 ( the cost for my DIY equipment) and luck.
I think it's really in quality ingredients, good attention to a balanced recipe, understanding the brew process and enjoying the hobby. That's what makes great beer, not expensive equipment. This fancy expensive equipment makes the brew day easier to a degree but if you don't know what your doing well its really not going to make better beer. Just my 2 cents.
Cheers