To the car example, I've done a moderate amount of work on my car in the past year. When I started, I had a junk set of sockets and wrenches from Walmart. I had a socket split in half when I was trying to loosen a bolt. Obviously the tools I had weren't up to the task. So I went to the hardware store and bought Crescent brand tools. They work great for a hobbyist like me. I don't do nearly enough mechanical work to require SnapOn or similar professional-grade tooling.
So I guess my critique is more, does this guy do things that require the top of the line tooling, or is he doing it just to showboat?
From other things I've read here, I'm reasonably convinced that he is probably justified in spending on the things he did. I didn't have any of that background when I read the article and made my initial comment.
If his business is video blogging, yes, he does.
As an adult working on my car, I get the right tools, and that sure makes for both a much easier time and getting professional results.
If you're into electronics, spending $$$ on a quality soldering iron is night and day in terms of time and money saved on the project. I discovered this because that was my side job in college, assembling circuit boards, and they gave me a pro soldering iron and what an amazing difference that was.
If your business is your video blog, getting a professional quality mike and camera is a good investment.