The short answer is yes. Although you exaggerate my argument (pages and pages of character development), I would like to see something more than a one dimensional single sexual encounter, which is what too many stories consist of.
I want an actual plot. I want believable characters. Just because it's porn doesn't mean you can dispense with these things. You aren't likely to come up with anything BDSM-wise that hasn't already been done a thousand times. Where you can be original is in the context in which those activities take place, but that requires a plot.
The reason I liked the Ninja Nights idea was because it offered a lot of scope for plot development with various interest groups competing for possession of the women, who themselves would be yet another interest group with their own agenda.

Harold