This is half true. Nothing will ever trump making a great product. However, it would be pretty foolish to just rely on that alone.
Companies need marketing strategies to serve as a catalyst to their product growth. Again, product is king. No doubt about that, because without a good product, no amount of marketing will make it stand out.
But not every company is going to be the next Instagram, Snapchat, or Facebook. Focusing on only product may not work out as well.