Content is anything the player interacts with while accomplishing goals.
Remove the base building, the food, the crafting, so you're only left with the player, the bosses, and mobs. Removing any or all of that is removing content. Some people don't like that part of the game but that doesn't mean it isn't content. When they added more base building options, more food, more weapons, a one new mob, they added content. It is somehow not what people expected (despite multiple sources telling us that's what it would be).