"Better for you than red camels" is an allegory for every thing that is better than anything else. Red camels used to be precious in Arabia, and their reference here is to highlight the value of guidance. Thus, this Hadith brings into prominence the importance of calling people towards Allah. But before calling others to the path of Allah, one must himself know it, and for this purpose, the knowledge of the Qur'an and Hadith is essential because one cannot provide any guidance in this respect without this knowledge.