Hi Matt,
Well, I'm conservatory-educated ... so my opinions about these sorts of things are firmly rooted in the "knowledge is power" camp.
That's not to say that everyone should enroll in conservatory and get a music degree ... far from it. But even private lessons from a competent teacher can take you miles ahead.
It's just that you'd be amazed at the things you could achieve when you know what you're doing. It's like learning a martial art in that it's also a discipline that gives strength and balance. Not only does writing your own music become easier, but learning pieces becomes a breeze because your ear becomes further in tune with your mind and vice versa. I play mostly in cover bands these days, and my musical knowledge and understanding has made it a breeze for me to learn literally scores of songs. Everything is just so much easier in general.
It's like the same reason you'd spend the extra money on top-end gear like BJF pedals, instead of whatever Guitar Center pedal du jour you could buy. You want to use equipment that is inspiring to play and provides the least amount of limitation to the user ... so that the fun can come forth, and more attention can be paid to playing the guitar instead of having to fight to dial in sounds with knobs. Learning more about music in general provides less limitation so that your own creative voice can flow forth from your soul ... making you a better songwriter, composer, improviser ... whatever your bag is.
It just makes you a better musician overall in my opinion.
Hope that helps!
Doc