Yes. I am self-taught, but early on learned to count and read the rhythms, although I used the tab crutch for the pitches for many years. About 5 years ago, I decided to learn to walk a bass line through jazz changes, and went to the store to find a book. There were two books on the subject, one with tabs, and one (Ed Friedland's) without. I decided to get the one without and challenge myself. After that I bought Rich Appleman's "Reading Contemporary Electric Bass", which has some good exercises.
I play exclusively in DIY originals bands, and for the most part, I can't say the ability to read has had much payoff in that world. It's nice to be able to write charts for my keyboard player, but I'm way better at bass clef than treble, so it's still slow going when I do.
But in the final analysis, I've always been of the philosophy that it's better to know something than to not know it.