Yes. To all of everything.
I'm no one's idea of a masterful performer, but because I can pick out not just roots, but qualities of chords, and also inversions (like when an acoustic guitar solo player wants to invert the V chord so the "bass" is a half-step under the I), I can survive gigs that pay and get callbacks even with minimal or, sometimes, no rehearsal. That stuff is stressful and not my preferred approach, but the money is the preferred color of green. And I learn new songs every time.
The stuff I spent time and effort learning takes only that: time and effort. Chords, chord inversions, chord progressions. Then, things like passing tones, getting more advanced into secondary dominants, walking bass, color tones, etc.
Learning some guitar along the way certainly won't hurt, and can only help really. But also, you can approach chords on bass via diads, triads, and tetrads even if it's more for theory than performance. Janek Gwizdala has a lot of damn good material on using harmony on bass.
And to start with the harmony thing, go find Take A Walk On The Wild Side by Lou Reed via Velvet Underground. Diads there, and it sounds great and characteristic.