So I've had the King for pretty much a year now. I've got 66 clues, which probably puts me in the bottom quartile of Arx players. (minor anecdote: over 10% of them came from a deal where somebody was like "come to my thing!", and I was like "okay I will come to your thing!" because I try to say yes to that as much as possible when people ask, and when I got to the thing it turned out to be basically a @clue-sharing meeting, and I was like lol I have zero actual @clues to share on this meeting topic, and a much of people were like yay! I get to help the king!, and then I got a bunch of clues about semirandom stuff, the end. Anyhoo)
I would say for me, theories and RP about them are way more important than the clues. I don't need to get lost in the weeds, I need the Big Picture more than anything. And the Big Picture doesn't come from clues; the clues are too zoomed-in on the details. I do feel I'm swimming a bit against the common player cultural stream on this one; some people are a lot more
than others when I'm OOCly like 'yeah, I don't have any @clues about this stuff, sorry!' in an IC discussion about Game Topics and such.
I think the big thing about @clues is that, despite the name, the great majority of them are not discrete clues in the "Mr. Boddy was killed in the conservatory" sense. They are little vignettes, fragments of bigger documents, accounts, events, and such. This makes them pretty cool to read and collect, but what this also means is the point of them is to include lots of extra world details as much as the actual hint the original investigation was trying to get. Moreover, once they exist on their own to be shared about the context, circumstance, and so on of that original investigation is generally lost. And then all these factors put together leaves you with this old RPG saw in semi-fresh memetic form:

Now take a big pile of self-service @org clues (or any sort of bulk @clue dumping, really) and you get this times 50.