How important in Music Theory or playing instrument - Quadruple threat now?

My son is about to get his BA in MT from RCS-- The school is actively involved in graduating quadruple threats. He was told this when he auditioned 3 years ago. (Course is 3 years long) During spring of their 2nd year, my son’s class created, wrote, produced, choreographed, sang, danced, acted and performed all of the music in a show. During the very last show this year, the 3rd year students performed in an “Actor-Muso” (Women on the Verge of a Nervous Breakdown) in which, again, the kids did everything, including playing all of the instruments/music. Son went into the program not knowing how to play any instrument, and now he’s proficient in piano, and plays several different kinds of bass guitars (acoustic, electric, stand-up). Music lessons all 6 semesters are required. S is convinced that having these extra skills will (hopefully!) serve him well in the future. Certainly can’t hurt.