I think there is something to be said for it's consistent use of informative text that is "just long enough". I am sure they could have put a lot more text and back story to everything and everyone (just look at your example Skyrim). But personally, that's a chore at some point. I think Shadowrun is giving just enough context to create a scene and your imagination fills in the gap. However, I don't necessarily agree it's better than something like Uncharted that manages to create story by simply having characters make facial expressions to convey how they're reacting. There is value in Shadowrun style information, but I think you're underestimating the power of expression.
Just look at the old silent films of the 20s and 30s. Very little of the story is conveyed in text. Most of it is conveyed in exaggerated forms of expression and surrounding set building. In a way, Shadowrun and games like it are the polar opposite of that. It gives you very little expression and uses text to make you fill in those expressions instead. I think both are valid ways to approach the subject of enriching a game world in some capacity.
Also, regarding smell and such, a lot of games that takes place in a real world sort of place also has some implied scents and tastes because they look similar to us. If I'm walking in a game where it looks run down and dirty, I'll assume it doesn't smell like roses. The game doesn't need to tell me it smells like gasoline, rust, garbage and urine. It's visually implied.
That being said, I fraggin love the game.
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