Maybe the real question should be, "What happens if we don't get our theology right?"
Keep in mind that bad theology is not really about misunderstanding Scripture, but about refusing to accept the obvious, a hard task needing dependence on God to achieve, and substituting it with an easier task, achievable without God.
In the Old Covenant, this getting things wrong did happen and the consequences were different from now.
God (Rock) wanted His followers to do death risking stuff (Christ) in order to be a blessing to the world and when they disbelieved, He was unhappy and His wrath came upon them.
1 Corinthians 10:[bless and do not curse]1For I do not want you to be unaware, brethren, that our fathers were all under the cloud and all passed through the sea; 2and all were baptized into Moses in the cloud and in the sea; 3and all ate the same spiritual food; 4and all drank the same spiritual drink, for they were drinking from a spiritual rock which followed them; and the rock was Christ.5Nevertheless, with most of them God was not well-pleased; for they were laid low in the wilderness
When they believed, He empowered them and they overcame, and were justified (confirmed to be truly His People and received protection from the Destroyer).
Galatians 3:24So the law was our guardian until Christ came that we might be justified by faith.
The Law did this by killing us:
Romans 7:10 I found that the very commandment that was intended
to bring life actually brought death.
The only person that the Law brought life to was Christ.
Thus the faithful did not become blessing to the world. That happened only together with future believers.
Hebrews 11:39And all these, having gained approval through their faith, did not receive what was promised, 40because God had provided something better for us, so that apart from us they would not be made perfect.
Now that we are not under the manifestation of the Eternal Law by the Old Covenant (Torah, Law) , faith which resulted in death, but the new terms and conditions of the Covenant of grace , faith resulting in life through union with Christ, we can face life threatening tasks, , be justified (be confirmed as God's People) overcome and win the race.
The parallels (I am only listing results of obedience, disobedience led to judgment,wrath, exile, for both old and new Covenant-ers)
Face enemy (dependence on things of the world, survival efforts) >depend on God >overcome >enjoy the benefit of obedience >protection by the terms and conditions of the covenant of torah interpretation of the Eternal Law (examples: remnant, Joshua, Caleb).
Face enemy (dependence on things of the world, survival efforts ) >depend on God >overcome >enjoy the benefit of obedience >empowerment through the terms and conditions of the covenant of grace (hundred times land, family, etc in this world, and eternal life in the world to come, olam haba).
I repeat, the Rock was Christ, the teaching that looking out for yourself was idolatry, and laying down your life for your fellowman was worshipping God, leading to resurrection towards blessing the world.
1 Corinthians 10:Now these things happened as examples for us, so that we would not crave evil things as they also craved. 7Do not be idolaters, as some of them were; as it is written, THE PEOPLE SAT DOWN TO EAT AND DRINK, AND STOOD UP TO PLAY.
Bad theology isn't wrong theology, its rejecting the obvious (Moses said it wasn't difficult to know what God wanted, it was in everyone's mouth, both the understanding of the requirement and the need for dependence on God to meet that requirement) and substituting it with idolatory:
Jeremiah 7:The children gather wood, and the fathers kindle the fire, and the women knead dough to make cakes for the queen of heaven; and they pour out drink offerings to other gods in order to spite Me. 19Do they spite Me? declares the LORD. Is it not themselves they spite, to their own shame?
Does your church teach the impracticality of following Christ through dependence in Christ? Red flag!