A calcium reactor isn't a must, but it may be cheaper in the long run. Two part dosing is great for small tanks, or even kalkwasser (limewater). The problem with either of these is that if you're very successful growing SPS, or decide you want a few clams, kalkwasser probably won't keep up and Two Part will get expensive quick.
Plus, if you choose to upgrade to a larger tank down the road, more corals, more rock with coralline algae and more water volume will mean more dosing, more often. Two part also has the tendency of salinity creeping up after a while. A calcium reactor, once dialed in will be set and forget until it's time to either replace the media or the CO2 tank needs filling.
Since I started my new tank, I'm using kalkwasser through a reactor I just traded for and my new frags and 7 inch Derasa clam are already creating a demand. When I can't keep up with kalk alone, I'll bring my calcium reactor online to take on the bulk of supplementation.