Me and some of my shooting buddies are hell bent on breaking this trend. We have come up with terms for the 2 camps: They labeled us ATAS (All Tactical And Stuff), so we started calling them RGFs (Race Gun Freaks)...you can fill in the gaps where those acronyms get slightly more vulgar. All in good fun and friendliness mind you.
I shoot 3 Gun with the only 3 guns I have and some cheap equipment from the mill surp store. I shoot FTR with a Savage 10 and a $900 optic. I shoot USPSA Open with a Glock 19 that was and old carry gun and a $250 Docter red dot that I got on sale. I don't win Nationals, but I haven't been competing that long to begin with. I do manage to win stages and even squeak out a top 5 spot at local matches now an then. I do not feel limited by my equipment in the slightest. As they say, "it's the Indian, not the bow" so learn to make good arrows (reload) and anything will shoot good enough.
In 3 Gun specifically, I REALLY enjoy seeing people clear consecutive malfunctions on their $5000 race guns because they are fine-tuned to the point that they barely run. I then throw my rifle in the mud, kick some dirt on it, stomp on it a couple times, pick it up, and proceed to make first round hits out to 500 yards. One of my buddies shoots a bone stock AK-74 in and hit 500 yard targets with irons that weren't even sighted in because he just bought the rifle and never shot it before the match.
In F-Class, I always go to lunch with the guys afterwards and talk about reloading. I really enjoy hearing people talk about neck turning, meplat uniforming, and $500 trimmers to get their loads shooting perfect. Then I tell them that my entire brass prep consists of FL resizing with an X-Die...and I get a 1/2" vertical dispersion at 300 yards.
In USPSA, nothing beats the look on people's faces when I unholster a Glock 19 open gun and get top 5. It doesn't happen that often, but man is it satisfying when it does.
These are the things I live for.
If you hate the equipment race, then don't participate in it. I have picked up some better gear, holsters, and scopes since I started, but it was because I wanted them, not because I had to pay to play. Use what you like and have fun. Few people make a living shooting matches. When you have fun and prove the RGFs are crazy, it makes winning all the more satisfying.