But I’ve never seen anybody use it in industry

Disagree - i used to work for some startup in computer vision, and it's pretty common for us to visualize and manually change the hyperparams - yes, we manually changed it

K complexity is separable into two components, one corresponding to randomness, and the other corresponding to deterministic structure

Corresponds with how bayesian Reinforcement Learning models, the randomness component corresponds with minimizing aleatoric uncertainty while the epistemic component corresponds with minimizing epistemic uncertainty.