I have four academic degrees, so by some measure, I must be smart. But then you look at my life and you think, "This guy's gotta be a huge idiot." So there is a matter of subjectivity there.
As for whether it's okay to be an idiot? I would say only if you're trying to not be an idiot any more. Being content with your idiocy isn't okay. But then there's the matter of how do you even know if you're ignorant? The only way to ensure that you're getting better is to assume that you're always ignorant, so there's always something to be learned.
So I guess that really didn't provide any more clarity. Clearly, I'm an idiot on this topic.