The film isn't the only important issue. The last time I checked, the MTF performance of large format lenses didn't match the performance of medium format and 35mm lenses.
That's true, however my understanding is that since LF requires less enlargement than 35mm for the same size print, that more than compensates for poorer MTF values.
Also, since nobody has said it yet, I'll toss in the semi-obligatory comment that sharpness isn't the most important element of a good photo. Certainly, an otherwise good photo can be ruined by lack of sharpness, but a reasonably sharp good photo might not be improved that much by improving the sharpness.
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