When I was a kid I had a cheap with a cheap spinning reel, 8 pound mono line, plastic bobbers, split shot, size 10 snelled hooks, and fished from the bank. I caught multiple species, ate everything I caught and had fun every minute I spent fishing. I even enjoyed digging the worms I used for bait.
I now have enough fishing gear to stock a Bass Pro Shops store, and more on the way. I can't possibly catch more fish, or have more fun than I did when I was young, so truth be told it is all a gimmick