I believe converse is the appropriate term here, feel free to correct it if you like. This fallacy has been seen enough by me to finally push me over the edge and get me to vent about it in my own, new thread.
The crux of the fallacy is this:
There exists the ability for any character to evolve into the ultimate cosmic power in D&D 3.5e, which is fully capable of solving any problem before the problem even begins. Therefore, it follows that if you are not the ultimate cosmic power, you are somehow either handicapping yourself or are not capable of solving problems.
The proof of the falseness of this statement is obvious to anyone who plays the game of 3.5e, since every single game that doesn't possess a character playing the ultimate cosmic power is a counter-example. This is essentially the converse of the Suck-Like-Me fallacy, because you are fully capable of being awesome without being an ass.
If a specific counter-example is desired, then consider the following situation: The party is a 7th-level group consisting of a Dungeoncrasher Fighter, TWF Rogue, Non-Rainbow Warmage, and DMM:Persist Cleric. Obviously, the DMM:Persist Cleric can make each of these individual characters obsolete through selection of Personal-Range damage buffs, BC spells, etc. On the other hand, he can also persist Mass Lesser Vigor, Lesser Holy Transformation, and Recitation, three top-end spells from the Cleric list, and follow it up with other high-end spells like Rod-Extended Mass Conviction and/or Mass Resist Energy, spells which, for the most part, benefit the whole party.
More explicitly, the Cleric is in no way required to prepare Lagozed's Breath, Divine Favor, Divine Power, Righteous Might, Divine Insight, Find Traps, etc. in order to perform at his maximum capacity, both because there are other party members that are perfectly capable of filling these roles themselves (especially with the aid of the mass buffs described above), and because these spells are in no way irreplaceable. There's a dozen great spells at any given level on the Cleric spell list, you don't need to pick out the few spells that trample the toes of your fellow party members in order to have a full allotment of great spells in a given day.