Agreed culture is important, but no amount of culture can make up for a lack of IT investment.

Is it possible for a company to be too culture-focused though, where they are so enamored with how great their culture is that they neglect other important aspects of their business?

I also wonder how often a company has a "good" culture overall, but it doesn't extend to IT. With outsourcing, I think you can see that happening, and the rest of the non-IT workers can be oblivious to it.