I'm glad I have some support on this, as I do occasionally run into people who think that memorizing the regs. by rote is all that is needed, or that learning how to answer a few multiple-choice questions to pass one test imparts every bit of knowledge possible.
Gobs of theory make NO difference if you don't know how it all comes together.
Yep, it works the other way round as well. These days, we have people who can pass City & Guilds exams on TV repair and they've never taken the back off a set in their life, much less gotten inside one with a meter.
To be the best that we possibly can, we need sound knowledge of theory, backed up with as much practical experience as possible.
And vice versa.