I think the answer to this question is very simple, and it can be looked at from various angles. First, we learn more about theoretical knowledge in schools because that's what we need as the foundation for whatever concept we would be taught. Theoretical knowledge gives you a very broad approach to learning so that if a step doesn't work, you can simply visit another. As much as practical knowledge is the best, the truth is, it is not always the best towards solving some real-life problems. Practical knowledge will narrow your facts discovery journey to a few steps, whereas you easily navigate to whatever direction with theoretical knowledge.
For example, if schools should be adopting just the practical way of imparting knowledge, students will only be limited to whatever they are taught in the classroom, but too much theoretical knowledge coupled with practical works will produce more results than too much practical knowledge with little theoretical knowledge. Another reason is that most schools can't afford all that is needed to impart knowledge in a practical way.
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