The farming simulation is deep enough to facilitate exploration of the map. Several recipes require ingredients found by killing monsters.

I am at "mid-game" and find the only things I am planting/farming are Carrots and Turnips. This is not a diverse selection of crops. I am raising boars. All of this is simple enough to be done in very short amounts of time (5-10 minutes every hour or two). In that time-span I am harvesting well enough food to keep me and another player going.. although I did install a mod that allows you to plant seeds on a grid -- so that erased what is, to me, tedious busywork precisely spacing seeds. I enjoy it IRL, not in a game :P

I believe if the game's "farm simulation" aspects were more in-depth, it would seriously draw a player away from the exploration/combat/rest of the game. So, to me, it's balanced pretty well right now. I have another player who is content (so far, 50+ hrs in) with spending ALL of their time inside safe walls, decorating and doing their own thing, involved in very minimal combat or exploration.

I don't think it's an in-depth system, but it's what it feels like it should be.. and if you're a player inclined to do "safe" things as such.. there's plenty enough to keep you busy.

Hope that helps!

ED: This is definitely not Farming Simulator or any of the more in-depth simulators. But it's fun!