In פרק ח the ירי אלוקים and the חכם get involved in a heated argument. This back and forth conversation explains their views of חכמה. The חכם thinks that man has to work for his wisdom, and it is the only thing that will make life meaningful. The world can not be understood without חכמה. He is extremely arrogant at this point. He says, "Who is better than a wise man (me)?" 

The ירי אלוקים responds by saying that the חכם is not the only one who uses wisdom. He has knowledge too because he is obedient to G0d. He is saying that the source of wisdom comes from the value of G0d. The ירי אלוקים is trying to explain the to חכם why being religious like him is valuable and helpful. 

In my opinion both of these values are important to understanding the value of wisdom. You cannot just gain knowledge without working for it. Being religious definitely can help gaining knowledge, but you cannot just sit around waiting for G0d to pop the information into your head. You have to work for it and want it. Especially at our age this can help us gain incentive to work harder to learn.