Well, I've served on many squadron's with a long and glorious history, with battle honours and which have lost brave individuals and crews.
Sadly none of this really mattered if the boss or anyone else I worked for/with was a total to55er.
Nor did the camaraderie depend on historical events.
So, whilst I believe that celebrating past glories and honouring those who served and paid the ultimate sacrifice is a very worthy activity, I do not believe that those events took place because of the badge they wore on their sleeve or on the side of their aircraft. Rigga is (partially) right: a squadron really is only as good as the people working there at that point in time.