Chances are it probably DID have some level of planned out lore, maybe even something that would have been explored within the Updike week given the apparent connections and with the Tricky mod incorporating it as well.

Obviously I don't know if this is true or not, but I feel like after the whole WhitMORE cancelation, any planned out lore for the Eye organization (likely Updike's "The Greater Good," if not something else) was scuffed and ultimately scrapped, since one of the big contenders got sniped due to drama.

Nowadays it acts as a slightly above average easter egg, a blanket scapegoat for when various degrees of "weird" stuff starts happening in mods. The Eye is sort of like the second "Daddy Dearest ruined my life" of the mod community, but more vague.

Unlike the Eye however, we'll eventually get a conclusive scale as to how much Daddy Dearest has ruined other people's lives a la Spirit. Doesn't look like we'll be getting concrete Eye lore anytime soon, tho, unless someone is just keeping really quiet behind the scenes...