Yes it does mean being a worse player than a PC player. No doubt about it. But very little in this game needs a player to be elite to accomplish. And really the differences that elite gear makes over good gear is pretty marginal. It's always been something elitists have held to, but in practice it doesn't bear out. I've played e 3 macro swap game vs 2 macro swap and found the differences were so marginal it wasn't worth the hassle. It's not 300 damage difference on WF, it's more like 50-100.However, I'm using the word optimal while you're using the word adequate. If you're content with setting the bounds of adequacy for yourself, that's your prerogative. If being less effective than the PC player next to you at ... well, everything, is adequate for you, that's also fine. It really does not bother me in the slightest. But that is a conscious decision that you make. Playing on a console means doing less damage, curing less HP, being less likely to land shots/hits, and taking longer to do the same things that PC players do. That's just the truth.
To me the game is about accomplishing tasks. If you can't accomplish a task with the gear and setup you have, then improve it. But many elitists go overkill on gear and then whine that the game is too easy.
Anyways, as I've said, if I notice I'm falling substantially behind my LS mates in performance, I'll quit the game. Will not play on PC. Don't have a PC, don't have a comfortable computer desk, don't want to spend money to get those things to become uber elite.
Played the game since PS2 release on consoles and have never felt inadequate yet. To me the game remains more about strategy and setup than gear. So I make sure I have solid strategies and know how to do my job . If I do that and have good gear I can accomplish anything I want on 360.