There is cheap gear like "Wow, what a bargain!" and there is cheap gear like "man, they cut some important corners to get to that price". As a bandleader, at a certain level it is your job to look at the gear. Being able to play a Top40 song well should not be a distinguishing feature for a bassist who expects to get paid. The guy who brings the bass with the crackling pot and rusty strings that can't hold a tuning for five minutes will not get my nod to play four hour shows in front of hundreds of people every week. He may be a master player, but that doesn't matter if his instrument falls apart during the second song.
All jokes aside, I think it is fair for my bandmates to have expectations of my gear. We are playing together, the band's sound is a sum of its parts, so my gear and sound choices affect everybody. But the golden rule applies: ALWAYS listen with your ears, not your eyes. If somebody tells me "hey, could you dial in more mids" I am totally open for that. If somebody told me to better bring a Gibson without even having heard my instrument, then I know I don't want to be part of this band.
I have been on the other side of this: I once left a band because of (not only, but it was a strong factor) the drummer's set. Man that thing sounded bad, from the kick to the cymbals. Horrible. I just didn't see a way that this band would ever sound good while that set was behind me on stage.