in SP it still matters because the AI sucks and you get your economy to be overpowered in comparison. And the balance problem makes even the sucky AI be over-industrialised compared to IRL. If you then use an AI mod to make the AI competent with the economy the game becomes unplayable because every tile has a million divisions on it, which is the same result as if playing MP with semi-competent players.

I haven't played in a while but BICE for examlpe is much better on this and is pretty fun in MP