Yes, but the planet is really, physically there. They need it because in a few decades, they will use it to fill it with procedurally generated content.
Also, some guy once got into a glitch in Arena Commander and flew all the way to the planet - it's not just a picture, it has surface but it looked really, REALLY bad.
well its physically there when in space, but the whole surface of it is not rendered in the sequence when landing. There is no way FD, or anyone, can have that kind of details on a 1:1 scale explorable planet because the hardware couldn't do it. If you think SC will do it, i've got a bridge to sell you. Anyone who thinks planets in ED could ever look THAT good is living in lalaland.