I think one benefit you get from this is learning to do more with less, which is a lesson that some of us need to learn all over again. There is "too much of a good thing" and it is all too easily to succumb to GAS (Gear Acquisition Syndrome) and end up with too many options. Forcing yoursefl to completely learn a pirce of equipment before buying another pays big dividends in the end. I produced with just a computer and a Roland JV-1080 for like 2 years. I learned that synth backwards and forwards, and it remains to this day, the one piece of equipment that I know best.
I also learned to DJ on completely substandard equipment. I started DJing with a Sega Genesis and a crappy belt drive turntable, not even meant for DJing. It had a slider that switched from 33 to 45, and I discovered that I could sort of put the slider in the middle and very roughly control pitch and speed. I would start tracks off in the sega and try to mix in a record on the turntable. Then I would use the Sega controller to cue the next CD by hitting the button on queue. It only actually worked about 20% of the time, but it taught me the fundamentals, and I learned quickly. The point was that i was dedicated enough to learn that I would try on anything.
When I finally got 1200's, the transition was super easy. I think the same goes for producing in this regard.
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