Tooling and space makes a massive difference. While it's true that a master could build/cook something amazing with subpar tooling, efficiency goes down significantly.
I wouldn’t say it’s significant. Good tools can make your life easier, but you reach diminishing returns very quickly. I used rather crappy kitchen tools for probably my first 10 years of home cooking, and didn’t have any big increase in productivity when I started spending more money on them, and wasn’t held back by them at any point prior to that. I got a decent boost from buying a nice stand mixer, but I only use that for cakes and leavened bread, which I don’t cook that much of.