It depends on the campaign, but I typically lean into it quite a bit, and like being involved in fantasy world politics as a character (like my Changeling Hexblade that's trying to conquer Faerun and destroy the Lords' Alliance).
In my current Eberron campaign, it's absolutely essential to the game. Not just because of the fallout of the Mourning and who wants to become the monarch of all of Galifar (they're currently supporting Prince Oargev of New Cyre), but also because my players have made their characters be rivals of many of the Dragonmarked houses through stepping on their toes (the Warforged Artificer understandably hates House Cannith and is trying to ruin them, the Mark of Making Wizard is an outcast from House Cannith West and doesn't like the other factions of the Dragonmarked House, and the Firbolg Monk doesn't like anyone that has too much power).
In my homebrew world, Tor-eal, the world's politics is a major part of the world. The Free People of Wadhaven are close allies with the Speakers of Silvaryn and the Barony of Balgara, even though they have (currently) irreconcilable differences (Wadhaven is a democracy where every citizen votes on every matter, Silvaryn is a Gerontocracy-Republic where the oldest/most experienced members of the nation are voted to a Senate to make laws, and the Barony of Balgara is a feudal-style plutocracy where the aristocratic families/baronies are elevated in status over those less wealthy/influential than them). These 3 nations are dedicated rivals to Nevumber (a mago-dictatorship that is ruled by a triumvirate of nigh-immortal evil mages), Mindathar (a brutal militocracy that is ruled by minotaur warlords and tyrants), and both the Draconic Empire and the Kingdom of Klörvak during their 4-centuries long war that destroyed many innocent lives. There's also the Celestial Council, which is an "all-powerful" bureaucracy that is hindered by endless debates on where, when, and how much they should intervene in the world that results in inaction and incompetence (which is why the Great Dragon-Giant War was allowed to go on for so long) that tries to avoid intervention whenever they possibly can. Finally, there are the endless rivals; the Yikkan Contingent ("Yikkan" coming from them worshipping the Yikare, this world's "deity" of magic) and the Sheiohn Foulen (translates to the "One-Mind Foundation"). I've described their conflict in more detail
here and
here. To put it simply, a major part of my world is the complexity of its political systems and provoking questions and scenarios where one wonders which side is in the right and which is in the wrong in any given situation (granted, some are more obviously in the wrong than others, like Nevumber and Mindathar).