Well, that depends!!
What do you NEED from your guitar right now? Remember that the main point of playing guitar is to enjoy it AND feel motivated to enough to continue learning at an accelerated rate, especially if your taking guitar lessons.
I never push music theory onto my guitar students, I understand that the prospect can feel daunting especially as playing your favourite songs can seem like the ultimate goal as a guitar player. At first that is.
I've noticed that changes over time though. I think it's fair to say that the more you learn as a guitar player the more you want to know. The more you want to know the faster you learn. That's a vital part of development and when you can feel the speed in which you learn getting faster it makes you feel unstoppable. You should feel like this most of the time when you are learning guitar and you should get that feeling through high quality guitar lessons. If you have a guitar teacher and don't feel like you are really moving forward sack them. They are not doing their job.
Music theory turns guitar players into musicians that play guitar rather than shackling them as 'guitarists'. The difference is huge but don't let that make you feel glum if you are not learning theory. Like I said, if you get the right guitar lessons or Tutor then your desire to learn theory will probably become strong. I can help with that if your Teacher can't.
Imagine being able to see all possibilities to play across a complex ( or simple ) chord progression. Imagine being able to make your own chords and arpeggios and custom pentatonic scales to targett chord tones? Imagine writing down a rhythm you can hear in your head on the bus and then getting home and playing the same thing! Imagine writing your own songs and being able to substitute any chord with an appropriate chord that sounds even better.
This is music theory, in practise, on guitar. It's liberating and turns guitarists into musicians who just happen to play guitar.
Give it some thought - I specialise in making music theory REALLY easy. All 'we' need is your enthusiasm to reach your goals.
0781 864 7517