It's a common CPU vs RAM decision to make. Dependency graph consumes memory, while recalculating everything for a number of iterations could happen on stack one formula at a time in a loop. On 6502 it mattered. On modern CPUs, even with RAM crisis I'm sure for 99.9% of spreadsheets any options is good enough. Say, you have 10K rows and 100 columns - it's 1M calculations to make.

Keeping a dependency tree is not complicated