Is it possible? The development of a competitor on an expensive and cheap bike, with the right training plan, will be similar. When it comes to training, it can be done on a bike from the lowest price range, still guaranteeing development and growth in form. The differences begin when competing with others. Good equipment from the high price range usually guarantees better riding comfort and achieving higher speeds, but it is not certain that it has a positive effect on the overall development of the competitor. Everything in order.
Start with what you have. And you have a lot. As much as anyone. If you don't have the budget for top-shelf equipment, take care of what you have. The speeds achieved on aluminum frames, in bikes with 8-9 speed cassettes were practically the same as the speeds achieved today.