While deeper queues usually enabled higher average transfer rates, they also increase the average access time, which directly affects what latency settings one can get away with.
As an example, if you go into a bank and there is one queue with only one person in it, and another with 32, which one are you likely to get served at first, given that the service time per person is the same?
Basically, the only reason that higher queue depths give higher average transfer/service rates is that they reduce the possibility of gaps between requests, which are something that:
a) banks want to avoid as it results in staff standing around waiting
b) drive manufacturers ignore because it doesn’t give any bragging rights for throughput
c) most users ignore because they are not concerned with sub-second response times,
BUT that enables DAW/samplers to be the most responsive.
Another reason to use 64kB sectors, but they also substantially reduce OS overhead, namely 1/16 compared to 4kB, and reduce queue depth dependency.