Yes.
The clothes don't make the person, the person makes the clothes. Your clothes usually are an extension of who you are. If you don't have any style, it shows in many ways, fashion included. Fashion and style doesn't mean the latest trend or designer clothing, but sometimes is. If I wear something, it's because I like it, not because everyone else is wearing it. Though a lot times, what's hot IS what I like (maybe because I have good taste
) but the difference is that I'd wear it regardless if it was cool or not.
Now me being a designer and creative at heart, it's only natural I've developed a style and aesthetic eye. Not because I feel the need of whatever, but because of who I am. So yeah I have a lot of designer clothing, but I also have a lot of noname thrift clothes.
Now people that just put on whatever is out at A&F etc etc, maybe look stylish, but that doesn't mean they have TRUE style. There's a difference.
I think style is important in general, clothing, work, music, accent, attitude etc. It all plays into style. Fashion is just one of the most obvious indicators. You don't have to be unuiqe or original to have style, you just have to be congruent; it has to be you to work. Make it your own.