To me it depends on what your goals are as to why have a website. If you are more interested in having a brand independent of Etsy and being able to sell in bulk without fees and you have something important to convey to your clients than yes, a website with a blog and a store is a great option!
If your Etsy shop is just a hobby and you are satisfied with the money it brings in, I think it is enough.
Having a website requires a lot of dedication. You need to be able to blog twice a week, promote it heavily via social media, know how to use titles, keywords etc... with html code etc....
My business website is here
http://www.cinnabarys.com/and I have big plans for it as I want to grow it to a second income that is based on banner advertising and eventually a secondary store. However, I am willing to put in a 2-3 year investment in time, photographs, money on ad campaigns, and coding to make that happen.