I agree with what do they need, so easy to get caught up in all the gadgets.
Looking back I found these items the most useful.
Something to sleep in, we got a next 2 me bed and then went in to a cot.
A sleepyhead - was so handy and used it a lot! Great for when you're visiting friends etc for the whole day and you need somewhere for baby to sleep.
For our pram we got a set, Nuna mix which I loved. Came with bassinet, pushchair, car seat.
A bath support.
A bottle drying rack and a plastic tub with lid to store bits in - I liked keeping all the bits separate from everything else.
Preferred a steriliser that goes in the micro compared to electric.
Don't buy loads of blankets, Muslins or teddies. You'll get given loads and we really didn't need a lot.
Large muslins - super handy for lots of things.
Breast pumps- I really think this is a bit hit and miss depending on you. I exclusively pumped with the first. I started with a double electric pump and found it annoying, bought a much cheaper manual pump and liked it more, Hakka one done nothing for me.
We just have a simple noise baby monitor.
Buy 2nd hand where you can (apart from car seat) - babies aren't in things for long and most is as good as new.
I think just live within your means, as long as they are warm, loved, have food and somewhere to sleep that's what they need.
I also never get why people panic and do a nursery, they sleep with you for the 1st 6m anyway so keep that in mind.