I'd agree with that generally for the regular army, but for elite troops like SOF and airborne assault, the equipment is lacklustre and could very well be improved. Especially for SOF, that yields much greater returns than giving regular infantry GPNVGs.
Another aspect is that when you train with other countries, if your infantry looks poor and terrible that does give very bad impressions. So given that infantry equipment is extremely cheap compared to naval or air assets, It's absolutely worthwhile to invest in equipment for SOF and etc.
SOF isn't that important in the context of conventional warfare.The Russia-Ukraine War is showing how SOF aren't that important. Even the US recognizes this and is primarily focusing on their conventional arms. Based on what I heard and read, SOCOM units are getting reduced in size and funding. Your line of thinking is from the GWOT era and it is seriously out of date.
With that being said, I do think that at least the rapid-reaction units should get up-to-date gear since they can provide feedback and establish the necessary TTP's for the rest of the force to follow suit.
As far as more modern, up to date gear goes, PAP units on average are a fair bit better equipped than the PLAGF, for mostly good reason, and can provide feedback and even be demonstrator/trials for equipment if the PLA wants to buy into them.
It actually makes sense given the PAP's mission versus the PLAGF's mission (let alone the PLA as a whole).
As for polati's suggestion of wanting to have infantry that looks better equipped for the purpose of "good impressions," there are other ways of doing so than actually buying high end equipment that would be a poor use of opportunity cost at the military level.
At the end of the day, everyone would benefit from internalizing and genuinely accepting within their heart and soul that for the PLA, and even for the PLAGF, that high end infantry gear and high end "capabilities" just isn't that high of a priority for them and rightly so.
Repeat after me: "omitting high end infantry capabilities for PLAGF is love; omitting high end infantry capabilities for PLAGF is life".