It's not a contest, but there are plenty of outstanding players who play mega buck basses.
Most of the people that don't understand the high-end and/or boutique basses haven't played them - and I don't mean picking up a poorly set up bass at GC and playing for 2 minutes while some ding dong wails on Eruption right next to you.
The thing that makes a boutique bass worth it to many of the people that buy them is that they get the bass exactly how they want it - neck profile, pickups, body, color, setup, etc., etc., etc. That's one of the reasons that you can pick up a bass I think is perfect and go, "meh." It's built perfectly to MY tastes, not yours.