In addition to missing things you are looking for, it's also possible to miss things you aren't looking for. My basalt mining base:
is on a volcanic planet with mountains that have nearly vertical cliffs extending hundreds of meters upwards, and
is only a few hundred meters from surrounding cliffs that
don't render from the base.
If I get into my starship and start flying horizontal in some directions, I crash into a cliff face after 2-3 seconds — well before it actually loads into view.
This is a very minor issue in practice, as I have strong shields and plenty or repair materials around. But it definitely takes away from the immersion of a world that I can explore and understand intuitively.
No Man's Sky lazy-loads a lot of terrain (and associated features) only when you get close to it — see https://github.com/lgarron/first-world/issues/193
In addition to missing things you are looking for, it's also possible to miss things you aren't looking for. My basalt mining base:
If I get into my starship and start flying horizontal in some directions, I crash into a cliff face after 2-3 seconds — well before it actually loads into view.
This is a very minor issue in practice, as I have strong shields and plenty or repair materials around. But it definitely takes away from the immersion of a world that I can explore and understand intuitively.