My overall feeling about this, but this may be pejudiced by the types of music I listen to, is that, an advanced musical education, in both technique and theory, is much more likely to help, rather than harm the resulting music.
If a musician or composer has a greater knowledge of tehcnique and theory, they have more language to call upon in order to help them convey the emotiaonal and/or intellectual content they want.
I am defienitely not a follower of the old addage, "2 chords and the truth" as it is applied to country and blues.
I love complexity and high levels of musicianship in the various genres of music I listen to. And, the resulting emotional and intellectual experience they bring about.