I think skills are still the key (and having some credits, to reel in clients) but the tech side is getting pretty flat. Many really good mixers work in the box, with some decent monitors at home. They go into the big room for finishing touches, maybe, but most of the work they do in their place. The room is treated, of course, but nothing too spectacular.
That said, I think that the software tools are getting better and better, and that lowers the barriers to entry. A good musician, with a good ear and patience can get a very good mix of his tracks at home. Maybe someone with years of experience would get a better mix, with more magic, more 'stunts' and so on, but to the end listener, the home mix may be good enough, especially if they're not after radio play, etc.
Selling home recordists on the idea that they can benefit from a pro mix is where our business is at, for the most part. Trying to get big money gigs is probably not realistic, unless you've already got a hit or two under your belt.
Working a nice studio has some advantages for me, though (having done a remote thing for the past 9 years,) the controlled environment means I can get sounds fast, and know what I'm hearing. And just having a separate control room is nice sometimes. Being in the room with the band is good, too, but makes it harder to fine tune things while tracking.