It takes a lot to get thrown out of TEST Alliance, but this pilot apparently managed it:
Every pilot in New Eden has a different idea about how much ISK you should spend on fitting out a hull after you've assembled it. I've seen really expensive interceptors lined with faction and dead-space gear. I've seen bargain-fit Machariels. Still, if you were to distill all of these choices down to an average, I suspect you'd find that most EVE players agree that you should spend about as much to fit a ship as it cost you to buy it.
Did you spend 150 million on a Guardian, or 200 million on an Abaddon? Then pump some money into faction hardeners and Tech2 rigs. Did you plop down 350 million ISK for a Tengu hull and subsystems? Then sure, a trio of Caldari Navy Ballistic Control Systems are a good call. Bhaalgorn leave your wallet a billion ISK lighter? Then pimp that fit out some because that's a hull that deserves it. On the flip-side, though, you don't go nuts covering a Tech1 cruiser in all Tech2 hardware; it probably won't live long enough to enjoy it.
And you don't fit 400 million ISK in hardware to a 40 million ISK Drake. Just... just don't.
Remember, all that high-end hardware works on base percentages. And if your base percentages aren't all that good, then multiplying them by a few more percent is simply not worth the ISK... or the risk of loss. In this case, 75 million ISK purchased another whole 1000 effective hit points. Or about a fifth of second (really!) under that gank squad's DPS. And that 300 million ISK in faction BCSs gained this pilot a whole 20 DPS... 80 fewer DPS than what he would have gained from firing Tech2 missiles using plain old Tech2 BCSs instead.
No matter how hard you try, you can't polish a sneaker. Save the expensive hardware for a higher end ship.
Ten minutes after losing this ship, this pilot was kicked out of his corp. There are limits to what even the most "no shits were given" alliances in EVE will accept. ;-)
Finally, I would be remiss if I didn't mention this bit of idiocy:
This is an Erebus. It uses hybrids. Hybrids like Magnetic Field Stabilizers. If you don't know this, then you have no business with a titan. Donate it to me. ;-)