Hello repressthecadence, I think you are probably misunderstanding at least a few of us. I don't think any serious musician is going to argue the fact that knowing as much theory as you can is an invalueable tool in original or cover music. Just as an example, I have spent the last 39 years, in one way or another learning as much about theory as I can find, and while I still don't know everything, with each passing day I know more than I did the day before. I have been pro. for 32 years playing in cover bands and original bands and a combo of both.
I beleive most people are saying they would rather play with someone that plays from the heart instead of someone that plays in a mechanical way irrigardless of weather they are degree'd in music or not.
I for one can watch a 40 peice orchestra play a very symphonic peice, and see some of those degree'd balding men play their hearts out, it is obvious that they are as us non degree'd musicians say Jammin, or on the other hand you can watch someone like Yanni Live At The Acropalis (one of my favs) and degree'd or not they are tearing it up man.
I think it is almost impossible to play music and be a serious musician without naturally learning a lot of or at least some theory.
Like my dear old pops used to say (he had a Bachelor of Arts degree) by the way, you still can attend the University Of Life