Kinda..
In the video below Tony Northrup demonstrates how professional results can be achieved by almost any entry level camera. it's amazing how many times I'll be showing a client or friend some pictures and their reaction to it is "wow you must have an amazing camera". Well... I do and thank you for noticing however I'd be able to get the same results with a cheaper camera, it's a matter of time and effort.
Now don't get me wrong I'm not having a go at the friend or client because I understand they're simply complimenting me, which is always appreciated.
A professional camera can make a huge difference to the results and the workflow can be significantly improved, however at the end of it all it does come down to the actual photographer. I do believe professional equipment is important and not just for bragging rights, but there is a balance.
Anyway enough from me please watch the video below.