Both. I can see there being a few standardized modes where you select from some "default" load outs for your class, and match everyone so teams are of equal level. More powerful gear could be available on the map for players to fight over. These modes would be where people go to decide who is the "most skilled". I think being able to show off your own gear is probably going to one of the reasons people want to compete. They want to see if their new rare assault rifle can give them the edge they need to climd a few more rungs on the ladder, so to speak. Honestly I think this is the kind of mode I would prefer most of the time.