Also, per the 2024 DMG, magic items are not required either (and they definitely were in previous editions):
From Chapter 7 of the 2024 DMG:
Are Magic Items Necessary?
The D&D game assumes that magic items appear sporadically and that they are a boon unless an item bears a curse. Characters and monsters are built to face each other without the help of magic items, which means that having a magic item makes a character more powerful or versatile than a generic character of the same level. As DM, you never have to worry about awarding magic items just so the characters can keep up with the campaign’s threats. Magic items are truly prizes—desirable but not necessary.