If 99% of golfers are honest with themselves, it is not equipment that is holding them back.
As long as it is a fairly decent fit, you should be good to go.
I am currently using a TA 845 driver I bought on clearance from DSG for $150 and reshafted with a Grafalloy Prolaunch Platinum shaft for $70. It is a great driver and I play it as well as anything else I have recently hit.
There is a point of diminishing returns.
Having said all of this sometimes I spend money like a drunken sailor, so I would drop $600 on a driver if I liked it. However, I know that I am the limiting factor and not my clubs.