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Some people never learn expensive equipment doesn't catch fish.

it definitely doesn't help you hook them. 

 

but it definitely can help you land them. 

 

eg. get a good fish that is pulling drag on a cheap spinning rig with a crappy drag and you may not land your fish. with a smooth drag on a better reel you just might. 

ugly stick or Shakespear(?) is playing the numbers game.  works for them, and the people that buy them.  last time i used one was dragging a ball of salmon eggs on the FeatherRiver.  big giant salmon.  it was fine, but a big salmon in a fast river is about as subtle as a car crash.  you know it's happening.  

 

bicycle guys have a similar discussion on their forums about Huffy bikes

I use one for striper and blues off jetties. Wanted a rod I wouldn’t cry about when it gets beat up on the rocks, a cheap Bigwater fit the bill.