As a player, I don't think it's necessary. It makes things easier, sure, especially if you use the Charactermancer, but you can still have a fully satisfying gaming experience without a single purchase. The only real benefit you get is that you don't have to fill out your character sheet from hand - it's your call whether that justifies the expense or not. As a DM, there are much more benefits to owning the books on Roll20, though it still definitely isn't necessary. It just saves you a lot of time. I ran games for close to two years using only the hardcovers and the SRD compendium (plus one yawning portal adventure), filling in tokens manually and doing up custom macros for each attack, mainly because I was loathe to buy the books twice. It was certainly more work than having everything I needed in the compendium, but I don't think the games themselves suffered as a result. My laziness has finally overcome my thriftiness, however, and I am now in the process of gradually acquiring the Roll20 versions of the books. But if you don't want to double dip, there's nothing stopping you from running quality games with just Roll20 and your hardcovers.