I think it would depend on what type of band you were looking to join wether it would work or not. If it was something quiter like a jazz, blues, singer songwriter acoustic act you would be fine....something heavier and your gonna need that push to drive the band.
You know, in a way your post is kinda hypocritical...you say it shouldn't matter what type (or lack of) equipment you have that gets you in the band, but then you expect the band to accomadate you with their stuff. Only a bass player could get away with that attitude, a guitar player showing up to a rehearsal or practice without an amp and he would be tomorrows news.