I hear this all the time...theory is he basis of creativity..it is the framework..your starting point....it gives you the tools to create...the ability to channel your creativity..it keeps you from playing the same stuff or relying on licks and patterns. Especially when coupled with ear training.
I can tell right away someone who is creative and knows what they are doing and someone who is just faking it. I have taught MANY players that had this opinion and, when they began to study, realized they were WRONG....