Depth is there whether the player appreciates it or not.
But, depth that the player does not appreciate is effectively wasted effort. The GM should spend time on things that the players do appreciate, when it is possible to know or guess that beforehand. This is a large part of the drive of content created in the moment - not needing to make up a ton of content beforehand that nobody's actually going to care about.
It's jumping into a pool vs jumping into a puddle. The depth is set even if you never jump into either one.
And here is one of many keys to GMing - if you're treading water in a dark ocean, you *don't know* how deep the water is. You only have to provide the suggestion of depth, until such time as a character chooses to dive, or is dragged down by a kraken

In practice, that means that the GM shoud develop the depths around expected kraken, and around things they expect the players to find intriguing and dive into. But developing depth *everywhere*, such that random elements will all have depth, is probably not the best use of a GMs time.
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