"Theory" is far more divorced (in my mind) from the mechanics, the context and the quality of a specific poem; and is more concerned with values and labels - to me, theory can be condensed conclusions offered after having read and appreciated loads of poems. It can make the implicit explicit, so that we have a shared vocabulary to discuss our likes. It can help us to appreciate pieces that at first appear alien to our aesthetics (it can widen our minds). It can be used to help debunk assertions about what's Right and Wrong in poetry. Even the strange stuff at the theory end of the LitEssay-LitCrit-LitTheory spectrum can contain the odd useful scrap.
I wouldn't expect a sports player to be well versed in theories of perception and aerodynamics, but sports coaches are increasingly turning to theorists to understand how to deal with spinning balls, etc, and the players benefit.
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