Does money make your marketing less creative?

Seth Godin blogged about marketeers and Money. his First and Second Rule struck a chord with me:

• First rule: great product development and marketing almost always comes from organizations that don't have enough money. Having less money keeps you from trying to buy your way out of trouble.
• Second rule: learning to live with less money means you will develop skills and resources instead of buying them. And it means that when you have less money (again), you'll be prepared.

This may be true as most big brand with big budgets spend a lot on (mostly offline) campaigns to splash their brand in people's faces. Not the most creative or effective way to spend your marketing dollars. And when the budgets go down, it's hard to all of a sudden step out of the spending model and get creative…