And even if you don't use the theory, it still gives a better understanding fundament. For example, if you understand computability theory, you'll understand why your Java compiler can never determine if your program can halt or not (or any other interesting property of the program), and why you have to use static analysis to give an approximative answer.
And "theory" can be used in practice, an example is Google page rank algorithm which would have been hard to brute force without a good understanding of linear algebra.