I never read the theory stuff in BGM but am sure many do. I dont need super chops for Ferrets gigs and I have never practiced or had a lesson. Did have guitar and banjo lessons though. I used to read but haven't for years.
But having the chops can make a difference, as the impact of Jimmy Blanton on Jazz in the 40's and Jamerson/Entwistle repeating the trick in the 60's for their respective genre's would not have happened without their technical ability.
OTOH, a lot of guys play stunt bass with little musical relevance cos they can, and the more strings they have usually the more stunt the bass.