*Mod hat off
No, not really. That seems to be just the only part of exploration that you want to acknowledge. As mentioned there is a whole suite of already existing explo mechanics and content you can navigate through, compromise with and details that you choose to ignore as not relevant for depth.
"From ship, build, path, waypoints, jumponium synthesis and jump range optimizing, risks on navigating surfaces etc all aspects converge to add to it. Our explo threads are full of guides and commanders asking for advice to prepare and perform and discuss such trips (just take a look at the Distant Worlds coordination and preparation/follow up threads), and not only in this forum. There is a significant amount of material issues to learn for it, to do it well."
Handwaving all those is your choice I reckon, you just may not like it or particularly enjoy it (and that is fine), but many other players choose not to handwave those and hence find the necessary depth to make the activity rewarding and engrossing to undertake. The artistic aspect is just one of the rewards.
I'm not waving them away, they are simply very limited actions with very obvious "correct answer" choices. A lot of them are also not limited to exploration at all, it is only outfitting that offers a significant variance on exploration gameplay and pretty much only through jump distance.
I do the same route optimising when I jump around the bubble in my FAS. There is no depth to my jump calculations, it's "I want to go here, there are stations I can refuel at here and where there are no stations I need to use my fuel scoop so I should set the filter on the map." The considerations are not deep and the considerations are not limited to exploration. Rather than lots of alternatives that yield similar net effects but through different mechanisms you are exposed to the same gameplay and results regardless of choice. Jump. Scoop. Jump. Scan at will.
The "risks on navigating surfaces" is not exploration gameplay, you are exposed to the same risks regardless of exploration, combat, trading, mining - whatever, it is just a risk of flying over/landing on a surface. Are the risks more significant because of distance from the bubble? Yes. But the risks are the same, perhaps you pay more heed to them outside the bubble or they make things more exciting, but it is the same gameplay.
Jumponium is not deep gameplay, it is "do I need the extra jump range? Then use jumponium. If not, don't." It's not a choice that offers alternatives and different mechanisms of playing in fact it's not really even a choice. If you want to go somewhere and there is a jump too far you need jumponium, if it's still not enough try a different ship, if that's still not enough you can't go, it's that simple. I would say it's not limited to exploration because it's not but it's going to be mostly used by explorers the same way weapons will mostly be used in combat and the commodities market by traders.
I'm not saying people shouldn't enjoy exploration, nor that they shouldn't enjoy Elite. But exploration is not deep, it is full of shallow, obvious choices with "yes this is right" answers. (The emergent, social game notwithstanding but that's created by the players, not the game). Deep gameplay does not have a list of "yes this is the correct answer" choices.
Compare the choices in exploration to the choices in combat. Combat has far more depth (reasons for doing combat perhaps not). Choosing to use pulse lasers instead of plasma accelerators completely changes not only how you approach a combat situation but how you fly in it. Outfitting weapons for combat has choices on how to achieve the same effect (target blowing up) and each of those choices changes the way you fly, far more than any of the choices in trade or exploration or mining etc. Deciding where to put your pips has a great effect on how you fly and what will happen during combat, how you approach the situation, which is not true for trading, mining or exploration. Deciding whether to us FAoff will greatly change how you approach the combat and the second to second gameplay decisions.
Btw I enjoy exploring myself, I haven't made any long trips though because I enjoy combat more and if I decide I want to do some combat it is impossible for me to do so once out on a trip.