When people say that theology isn’t really biblical studies, they fail to understand what theology is doing. Good theology is engaging with the inner theo-logic of the text of Holy Scripture and its reality in Jesus Christ. It’s engaging with the underlying notions that allow the Scripture writers to write and assert what they do about God. It’s identifying the 
theological ontological ground that sees Scripture in its taxis or order vis a vis as an instrument of the living and triune God. Good theologians are engaging with the Holy, as such, they unswervingly trust that God is a good communicator precisely because God became human in Jesus Christ. The theologian understands that the Bible is living and active because its reality in Jesus Christ is such. The theologian, like Jesus, understands Scripture is all about Him; every jot and tittle. So, when someone says that they are into biblical studies, and yet only engage with the surface presented by the grammar, syntax, literary designs, history, so on and so forth, they have actually failed to engage with the Scriptures more accurately. Biblical studies folks, because of the suppositions typically funding their respective discipline, aren’t ever making contact with the substantial reality of Holy Scripture; they aren’t touching the Holy, only the profane. Good theologians are really the best of biblical exegetes. But of course many theologians aren’t good. Many theologians get caught in the same web that their counterparts in biblical studies do; they get reduced to the content of their own fanciful imaginations and speculations, never touching down in the reality of the Text. These are bad theologians. The theologian doesn’t want to be an Apollos, they want to be a Priscilla and Aquila, who understands the reality of Scripture more accurately. An actual biblical studies person, who is a Christian, would never attempt to enter the holiness of Scripture without being in constant prayer and confession of their sins; they would never think they could read the Bible critically without the reality of Scripture first reading them critically. This necessarily entails that a good biblical studies person is ultimately a good theologian who is grounded in the confession that Jesus is Lord. It is from this holy ground that the Christian can more accurately engage with Scripture. Don’t be an Apollos, be a Priscilla and Aquila.