I think educating your self will allow you to grasp music on more levels. Classical music is a prime example. the level of appreciation from just listening as a laymen vs being able to appreciate the meticulous form, the key relationships, the use of motives and how they are used to make a piece not just sound good but structurally just blow your mind.
The opposite can also be true. Learning too much about music can quickly make lets say songs with chord progressions you might perhaps found catchy before and left it there make the listening experience painful when you are aware just how generic the song really is.
I think it gives you a greater ability to appreciate it but also a greater ability to really hate a piece of music as well.