I've read maybe, say, 2 chapters of theory. A bit of names and patterns.
In a way I agree with you, the more you dig the less you know. But at the same time, I have this feeling that .. I do know music. I know because when I'm on it, the few times it happened, it wasn't a theory, but more like a sense of spaces. A sense that fills you in a way that is impossible not to notice. Things are simple, borderline automatic, a very thin closed loop of sensation and action. A bit like an ODE ;) If you're tuned, you can now "see" that space [1] path, lines and curves and glide on them through the movement inertia.
It's not a static space, it's more like a slightly viscous fluid that also responds to your changes of momentum. If you decide not to glide smoothly anymore, you're welcome to do so, but the ground, the space will now change shape, so you have to know how to stay tuned and react to that. Then you can keep on gliding and it will feel musical.
My most used word when speaking about music is sensitivity.
[1] seeing in the abstract geometrical sense, a notion of direction, distance, scale, that we use to move, but can be used to organize any kind of sensory inputs I believe.