Understanding details like this is important to me for a couple of reasons. First it informs me as to how to present a particular location to the players, what is available to them there, which cargoes are in demand and which are not, things like that. It tells me what the name of the local coffee is, or even if there is local coffee, or if it's all imported by Guild transport from the Coffee Paradise Worlds of the Tleilaxu Coffee Masters. The second is that I enjoy things much more when they make sense. By that I mean the internal logic of a well thought out setting appeals to me intellectually, just as the drama of a movie or novel or setting or adventure can appeal to me emotionally. For example, I despise the Harry Potter books, but I admire JK Rowling's structuring of multiple storylines and subplots across the whole series. It is beautiful in itself, like a suspension bridge that is also a work of art. To know how the setting works is so much more fulfilling to me than simply saying well there's an astroburgers because there are burger chains irl, or there's a space coffee shop because there's starbucks irl, or there's a Brubek's because that's so fun-nay, or there's space walmart because there's walmart irl, and the players need to buy stuff so there's a space feed store that just happens to carry tree kraken kibble and spaceship parts and gauss rifle ammo, and there just happens to be a nice food court that just happens to have a patron waiting for scruffy player characters to hire for this session's adventure.
In another thread I discussed sandboxing with other posters, and understanding why different elements of the setting work the way they do, and having the different elements of the setting work instead of just magically existing, is vitally important to sandboxing. Once these elements are understood by the players and their characters, it allows them to interact with the setting on their own initiative instead of waiting for the ref to spoon feed them. Spoon feeding has to happen when the players are bound by a setting that doesn't have an underlying logic, because they have to wait for the ref to magic an adventure or situation into existence. Without the underlying logic of an economy, political situation, etc., there's no cause and effect, there are no sensible motivations for npc's to do what they do, and expecting players to come up with their own adventures is like expecting them to feed themselves when their hands are bound.