I'm talking from my experience as a pianist, but I think it works with guitar as well.
I've taken piano and musical theory lessons for 6/7 years and I think it has both benefits and drawbacks.
Benefits -> well for sure, it gave me technique, a knowledge on a lot of things - and I am able to play Deerhoof's Fresh Born on the piano since they released the score!
Drawbacks -> when I'm improvisating, I can find myself falling back on "classic" schemes (like for instance, basic chords) that I often played when I took lessons. So I sometimes have to do efforts in order to get out of those schemes
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