I started photography using the Smena 8M, then got myself a Pentax Spotmatic and currently I'm using a Nikon N6006.
I think that having any type of limitation, which certainly a cheap camera possesses, can be good thing in order to develop your creativity even more. As a child I did painting and drawing but it got to a point where it wasn't fulfilling me creatively anymore. So it was obvious for me to find a new medium to work with, and it's photography.
The only real limitations are those that you set up for yourself. It's not exactly the equipment because the camera by itself is just a camera. So go out and shoot, have fun and enjoy the entire process of photography regardless of what camera you're using.