Necessary? No, my recurve killed two big bucks quicker than any of my compounds have.
BUT a "$700 Bow" is kinda like having a gorgeous woman. The ugly women (cheap bows) net out the same end result at days end, dead is dead. But the pretty women (expensive bows) are more fun to be around, handle and be seen with!!!
Expensive equipment does not a hunter make, but when put to maximum use and used wisely the better equipment CAN yield better results over time,
RA