If you want to become a poet, you can hardly do without knowledge of literature and grammar. You could get very far, but at a certain point, you will run into problems. That is the same with music producers. If you do not naturally feel how a good chord progression should be made, you will probably never make one without knowledge of music theory.
Most of us do not have the innate quality to make a beautiful song of the highest level just by feeling. We are not just Mozart or Beethoven. Does that mean that it is impossible to achieve a top result? Of course not, you always have music theory for that! Music theory basically revolves around notation, which can be seen as the language of music. In essence, almost all music we know is based on the notation. Music theory is incorporated not only in Classical music but also in music styles such as Dance, Rock and Hip-hop. Novice music producers who work with a midi keyboard and a computer often find it difficult to make a nice melody, bass line and/or a chord progression. This is because they do not have the basis of music theory. In other words, they have a sheet of paper, a pen and creativity, but simply can not write a beautiful poem.