I started writing a reply here that quickly was turning into something well beyond the scope of the question. In the end, No, you don't need to know anything about most anything to be able to enjoy it, however, people are missing out. Both when they are unaware of history, and when they focus on it too much.
I will say that the lack of focus on any sort of hands on work, any understanding of mechanics, or machinery, and the over all lack of teaching in schools today is down right troubling to me. One of the early posts in this thread mentioned kids having enough to learn already, and I'm sure there IS plenty for them to learn. We just don't teach it any longer for fear that someone may not understand. In a board meeting of my local school district, I was astonished to learn that an actual part of the 11th grade english curriculum was teaching students how to use a comma. If we are only getting to commas in 11th grade, of course there is no time to teach of the industrial revolution, or to develop a sense of curiosity of how things work.
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“From the first catch-phrases flung at a child to the last, it is like a series of shocks to freeze his motor, to undercut the power of his consciousness. 'Don't ask so many questions, children should be seen and not heard!'–'Who are you to think? It's so, because I say so!'–'Don't argue, obey!'–'Don't try to understand, believe!'–'Don't rebel, adjust!–'Don't stand out, belong!'–'Don't struggle, compromise!'–'Your heart is more important than your mind!'–'Who are you to know? Your parents know best!'–'Who are you to know? Society knows best!'–'Who are you to know? The bureaucrats know best!'–'Who are you to object? All values are relative!'–'Who are you to want to escape a thug's bullet? That's only a personal prejudice!'”
— Hank Rearden, Atlas Shrugged