Henry Kissinger in his book wrote about how so much information, communications, and data are spreading all over the world, including the news. He worries that wisdom is not being developed. I agree.
Having data and information at one’s finger tips on a cell phone or a computer is not the same as having it in one’s own head, analyzing it and thinking about it, perhaps over a significant period of time.
I believe that a lot of formal learning is long forgotten. But that does not mean it’s unimportant.
Learning to master a body of knowledge/facts/analysis/disciplines in itself can create confidence and motivation to learn and master new things that one encounters.
Mastering knowledge does not meaning memorizing it. It means deciding what part, if any, is important, and if so, how important. This whole process may lead to combining old and new thoughts and creating unique new analysis far from what started the process.