No matter how talented a carpenter is, with bad tools he'll be hard pressed to produce a good product. The same holds true for a keeper. A good keeper with bad pads has a hard job, made harder.
Simple logic says good equipment helps.
Somewhere along the line, though, logic has become expensive when it comes to pads. Outfitting a keeper can be expensive and money isn't always something that's available by the buckets. It is possible for a keeper to be well kitted without spending a fortune, just as it's possible for a keeper to spend a ton of money and be poorly protected. Part of being well kitted is assessing what you have and what you need based on the requirements of the level you play, the surface you play on, your size, your aspirations, your gender and finally your budget. In the modern game, the typical list for the well kitted keeper includes a helmet with face mask, chest protector, pelvic protection, padded shorts, hand protection, legguards and kickers.