I don't think getting knowledge is the point of good lyrics. I really enjoy evocative, vivid lyricism; it doesn't have to be complex to work. And I tend to have differing views depending on who I listen to. I might put more emphasis on lyrics and have more expectations when listening to Mos Def for instance, than when I'm listening to YG. If I'm going to listen to a great rapper I might expect greatness, but at the same time recognize great records don't need great lyrics. But if I hear Mos rapping about Molly and Advil I would probably hold it against him.
Good example: when I listen to Drake I'm listening to flows and beats up front, but as a hip hop head I'm also determining whether this dude has "it" lyrically. That thought wouldn't cross my mind while listening to Chief Keef because he doesn't care or focus on being great. So as I listen to Drake, Kendrick, and these other new dudes I always want to see who is the best rapper, who is the best lyricist, and of course who makes the best music. In short I'm harder on serious rappers who throw their hat in the ring.
I might say Drake has a very simple flow he uses on most tracks, isn't a good lyricist, has some interesting introspective lyricism at times, isn't a storyteller, doesn't use metaphors much, writes great hooks. In short I don't think he's bad but don't consider him a standout rapper amongst his peers, and his bit making ability doesn't change that. None or that stops him from having dope songs I enjoy like Started From The Bottom, but if I were to rate his last album I'd give it a pretty low score. Great production, some good hooks, but weak content and few standout tracks.