Ronan Chris Murphy thinks home studios are killing music:

… I have seen home studios wreck a lot of people’s careers. For the most part, if you are a performing songwriter that puts a fancy studio in your home, if that does not stop your career dead in its tracks you are the exception and not the rule.

Obviously, I don’t agree with his premise, but he has a great point about putting your energy into performance and promotion, rather than satisfying perpetual gear acquisition syndrome.