Sure - No doubt, having more tackle means you have more options, and more specific ones at that, but the drawback is it cost you a lot of money to buy the baits, then likely the different combos to fish those baits, plus you have to haul all of it around to the lake each trip because you feel like you might end up needing something you left back at home. In addition, you're going to have a lot of decisions to make. Just in the shallow water you'll need to figure out whether to throw a spinnerbait, your new Teckel Sprinkers, a Plopper (what size and color?), maybe a Spook or a buzzbait,..how about a Senko, or a Pop-R. Don't forget your pitching outfit, and be sure to bring plenty of Rage Craws, beaver style baits, some brush hogs, the newest punching deal, and try them all, because you just never know which one they'll like better today...and we haven't even made it out of the first cove yet...oh, and don't forget the Ned outfit! One thing is for sure, you'll have the love and appreciation of the tackle manufacturers
I just want to go out fishing for a few hours, have a good time, and catch some bass. So, lets use @bagofdonuts example. You bring 4 outfits and a huge backpack to carry everything to the lake with you so you can "cover all your options." I grab a single rod/reel outfit along with a pack of my favorite color Zoom flukes. In that bag of flukes, I throw in a couple EWG and dropshot hooks, a couple bullet weights, 2 scrounger heads, 1 underspin body and a split shot or two. The whole thing goes in my back pocket.
Now, when we arrive at the lake, I start by tossing my weightless fluke along the bank, next to laydowns, in behind docks, and along the weeds, basically covering some shallow options. If the weed growth is thicker, I can twitch the bait over the moss and let it settle in holes, work it through pads, etc. If I get some halfhearted swirls in the weed openings, I can simply add a bullet weight to my outfit and now pitch the holes and work it slower, or do the same around laydowns and bushes along the bank.
Otherwise, no bites, so I start moving out a bit. By pinching a split shot on the line at the head of the bait, I can now fish down a few feet into the opening of docks, the deep ends of laydowns, or the deeper weedline edge. Put a fluke on one of the scrounger heads, and I can now work the bait like a crankbait, paralleling docks and weedlines, fan casting the flats, or throwing out into deeper water and counting the bait down to various depths. I can even rip it and let it drop trying to trigger bites like a spoon or Trap. Not as aggressive, rig it dropshot style and pitch the deep weedline or very ends of docks, finessing a few bass along the way.
If a group of schoolers comes up, I'm ready, going back weightless or tossing it on an underspin. If it turns out we need to go deeper to catch them, I can peg the bullet weight above the bait and fish it like a Carolina rig, dragging the bottom. If it's brushy down there, back to the Texas rigged version with the bullet weight, working it through the limbs.
If the fish are even halfway active today, I've done a pretty good job of covering all the available depths and speeds, around most every cover option the lake has to offer - all with a tackle pack that fits in my back pocket giving me supreme mobility and less hassles - and cost me almost nothing. I probably have caught my share of fish, also.
Of course, this is just an example and not all encompassing, but hopefully you get the idea. You don't need a lot of tackle to effectively fish a body of water and catch some bass.