I think it's at least very helpful in building emergent knowledge, knowledge of connections between things that, only after experience / long-term processing, you realize are instructive or related or at least similar or, very commonly, "Y is really just a special case of the more general X" idea.
It's still completely possible to learn some of the outgoing connections or equivalences after a specific search of the internet, but the more things you spend time ruminating on, the more connections/realizations seem to almost "bubble up" out of your subconscious/whatever. I think this is what [inspiration](https://en.wikipedia.org/wiki/Artistic_inspiration#Ancient_m...) is: the result of subconscious processing or drawing relationships between thoughts in your head that are memorized. That, I think, is what you wouldn't have anymore if you were to completely outsource your knowledge to the Internet. I have witnessed some brilliant statisticians come up with completely new ways for researchers to think of their data/analysis, without ever consulting Google...though that's a relatively poor example, and more related to developed Mathematical Intuition than anything else. I would argue that said developed intuition is a perfect example of drawing underlying connections between things by letting them stew around in your brain, connections that would be very much harder to find overtly.