How important is immersing yourself in the lore and atmosphere of the game?

I've currently got a character on almost every world in each server however out of all of these there's only 4 I actually dedicate my time too. I'm thinking about creating another but for purposes of truly immersing myself in the world. Talking to every npc, reading every single detail, item descriptions for key items but I just don't want to waste my time...Is all of this necessary? Is it rewarding to learn about the game on such a deep level or should I could playing my other characters? I just don't want to burnout and get bored of this which will lead to me detesting the game itself.