In a lot of cases, yes, far too many people over think the game. People study an insane number of techniques, but only are effective with a couple. So, in that sense, people need to put down the book, then drill and spar more.
Seminars, on the other hand, can be exceptional. You have been shown certain techniques a hundred times by your own instructor, but some times a new wrinkle or set up will help you really grasp a technique.
I am not knocking those dedicated enough to try and absorb all of the knowledge they possibly can. I am just personally a fan of applied science.