What actually makes an animated film deep?

I’ve been learning 3D for a few months now, and I’ve hit a wall that I think every creator faces: the balance between visual perfection and storytelling.

Initially, I got into animation because I wanted to tell stories, but the technical side (modeling, lighting, rigging) is so time-consuming that it starts to feel like the animation is becoming the goal itself, rather than the film.

This got me thinking: What truly gives an animated work its depth?

Is it the technical show-off (fluidity, lighting, experimental styles) that immerses us and creates a unique atmosphere?

Or is it strictly the narrative structure and the soul of the script, where even limited animation (like in South Park or Persepolis) can become a masterpiece?