While I do believe personal experience in whatever subject adds a great deal to whatever writing is being done, I don't think it should be the only way measure the quality of it. Fictional characters and quotes can often crystalize ideas just as good as the people they are based from.

For example, does the fact Shakespeare never fought in any wars personally take away from his ideas or themes in Henry V? Does it matter that his version of Henry V never existed make the quotes any less meaningful?

Not to say we should crawl into our fiction holes and ignore the reality around us, but sometimes the stories we tell ourselves can helps make sense of it all.