I think community is very important because a large supportive community not only can be of help financially but also help in marketing & promotion of the coin. But apart from this support any bugs can be found out by them. This is especially helpful to the engineers who also get a morale boost. But all in all the personnel working on the coin is most crucial for product to be successful.
The community represents the interest behind a cryptocurrency in general, but it doesn't mean that the community is not happy with current prices. A good example of a coin, which didn't get much help of its very strong community is Dogecoin. It was one of the most used cryptocurrencies (I think it was #2 after btc) less than 2 years ago. People enjoyed using it for gambling purposes, because of it being cheap and fast. Thus, nobody was really interested in it growing and with time it was going down. It is important to note, that at that time Doge already didn't have any team supporting and developing the project. That's why a community needs to stand behind the project, but constant development is of more importance imo.