How much of product photography is actually just lighting and composition?

Been thinking about this after studying product shots recently

A lot of high-end product photography feels less about the subject itself and more about:

•controlled lighting

•clean backgrounds

•intentional angles

It made me wonder how much of the realism we associate with product photos is actually just those elements being done well

For people who shoot product work do you feel like the subject matters less than the setup, or am I overthinking it?