I agree it depends on your niche and what kind of work / life balance you want. If you want to do large removals or do multiple jobs a day or per week, etc. then having larger equipment can absolutely help you make more money and decrease stress versus trying to do everything with less equipment or by manual labor.
At the same time, I think someone with minimal equipment can be just as efficient as a bigger crew that is running expensive fancy trucks and equipment, and still provide exceptional customer service and make good profit.
I operate with a medium sized hydraulic dump trailer and if the job calls for it a small chipper with a primary focus on pruning wth some emergency storm damage work and small-medium removals. But primarily I focus on pruning. I have one guy who helps me if I need it. No bobcat or mini. Everything dragged manually by hand. Customers like the fact that I don’t bring heavy equipment on the lawn and risk leaving indentations or causing damage.
I’m able to do large emergency storm damage jobs or removal work just as bigger companies do and I have no problem running a job into another day if needed. I also don’t mind if there are weeks I’m working 6-7 days per week. I do want to expand and accumulate some more equipment but very gradually while keeping my expenses in check.
Someone who wants to consistently do larger jobs, has employees to pay weekly and a lot of overhead has that pressure that they need to get more jobs done more quickly and ensure they are able to cover their monthly expenses, so I totally understand.
And I get the point about the backlog part. That all ties into your niche and what type of operation you are trying to run.
Find your place in the industry and build your business around that.
While we are talking about operations with bigger equipment versus smaller operations, for me personally one piece of equipment I am interested in is a spider lift.