Does a good power conditioner reduce need for power supply upgrade?

Would like to hear Agoner’s opinion on this topic.  It appears to me that power conditioning as a part of power distribution role for your whole system, and high end external power supplies designed to either replace and beef up internal linear supplies (e.g. Naim approach) or to replace cheap switching wall warts or internal supplies supporting a single piece of equipment have a similar function, that being to reduce noise without restricting current.

Interested in what you think.

kn