Yes, No, Maybe.
All depends on how extreme you want to travel, how much you want or need to carry and how you want the weather to affect your plans.
Some of the best four wheeling I have done was in my JB Camira! You really learn throttle control in mud with slick road tyres on a front wheel drive.
Spent a few years driving off track in FNQ with the Army. Came across some interesting vvehicles that clearly cemonstrated the drivers capability to get where they were!
I work in the outdoors, am a 4wd guide and live near several road crossings that go under with moderate rain. "Stay home and wait it out" you say. Fair comment, but I am an SES group leader that goes out when others stay home.
I am in between Perentie Land rovers at the moment.
Gal chassis, truck engine, gearbox and drivetrain.
Light on fuel and tyres with minimal running and maintanence costs (12-14lt/ 100kms loaded)
It gets me away from the noise and yobs in the normal camp grounds and closer to the bush camps. I am 'time poor' so need to make the most of my time away.
I have been looking at a few 2wd options because my LRs are just too capable in the rough stuff and I am looking for more of a challenge.
The Falcon RTV utes with raised suspension look the goods, but I will need a wagon to fit the mob in.
Throw some 31"LT MTs on the back running 20psi should get me most places without too much effort.
For a inspiring and imaginative option, have a look at what these 2 did:
Victor the worlds furthest travelled home made car, 128 Countries, 360,000+klms, 6 1/2 years around the world, 1,800 nights in our roof top tent!
http://www.ouradventurebug.com/
Greaat people to talk too and well and truly have the runs on the board!