Earlier quoted context omitted.
Conceits creep in if you only read one perspective. Think about all the people who think Western culture is the source of all civilization because they only read things that affirm that view. Any given culture's canon is big in volume, but small in context.
Still, I imagine it's better to read your culture's canon of thought only than none at all. Obviously you're not going to get a diverse perspective on life that way, but you might get a perspective that isn't totally informed by id or media.
Not only that, but the “Western Canon”, is most certainly not written by one culture.