Considering this issue for awhile now, I've come to the following thoughts:
In the absolute overall ideal world, I still believe perfect skill with imperfect tech beats perfect tech with imperfect skill. However, being human, no one is capable of either achieving perfect skill or building perfect tech, thus it's a moot point for now.
In the more realistic realm, the importance of skill versus tech really depends on the game. For free-for-all type soakfests, while skill and aptitude are important, one can often get away with less skill, but better tech in order to achieve more successful soaking. If you have lousy skill or lousy tech, you're likely bound to get hosed no matter what.

However, IMO, a decent player with above average tech will gain a soaking advantage versus an above average skilled player with decent tech. If your blaster can push more water out farther per second, even if you miss a little more often, each hit just scores more points which makes it harder for a lesser blaster user to catch up in the long run.
As for OHK/OHS-type games, skill ends up coming out on top just a bit more often than tech. This is simply since a blaster's output and range advantage is reduced or even negated since the game is about the single hit, not overall soakage. So long as a player is using decent equipment, a more skilled player would be better at avoiding being hit by a less skilled one even if the less skilled player had above average performing water blasters. As it only takes a single hit to gain a point, having above average range, output, or capacity does not matter as much as having better aim to score the hit in the first place.
Of course, the environment also plays a role, too.
In open fields with minimal to no cover, better tech generally has the advantage. With nowhere to hide, better performing blasters will show their strength and score more points thanks to better output and range. It would require significantly more skill to outpace an average user using a decent blaster than it would require better tech to make the playing field more level.
However, throw in some trees, bushes, walls, or other places in which one can hide from the onslaught of an incoming stream and tech advantages get notably reduced.
While developing both skill and improving one's tech is always the best option, depending on what type of game one usually is involved in, one might consider developing one slightly more than the other to maximize end results on the field.
