It would seem that much of pop music has now been relegated to music that is little more than a jingle wrapped up in a genre. Some have told me that there is very little point in learning music theory. I very strongly beg to differ.
I have always been a fan of 20th century classical music. The leap away from major/minor tonalities, ignoring serialism (a mistake) has produced some wonderful music with tonal colors that yes, require some music theory.
So, I continue to learn and grow as a composer. I will not be using any cow bell but if you hear some unique tonal flavors in my music it's because I am exploring tonalities outside of pop music.