I see the term baked - are baked objects less resource using?
The term 'baked' can mean a variety of things, but almost always improves performance and is a necessity past a certain fidelity.
Not only does baking textures allow you to reduce material count (as multiple PBR materials can be combined), but custom normal/displacement maps can be used to simulate the look of geometry detail while keeping poly count low.
This clip should show how prevalent this is in high fidelity games:
https://www.youtube.com/embed/Twrp9QyHFxQ?start=1325
A LOT of extra effort goes into making 3d games 'good looking', well beyond this, which is why it annoys me whenever people say Godot 3 can't already achieve this level of detail. It absolutely can, but very few hobbyists/indies using it have anywhere near the resources (and in my case the experience) to sculpt, texture and rebake to low poly the sheer quantity of assets required to get even rudimentary 3D scenes to look this good.
What people end up doing is using whatever unoptimised models they can find available (I'm guilty of lifting 3D scans :S) then blame the engine like it was supposed to magically do this for us.
As a shameless plug to my own videos, here's a forest scene I made in Godot last year some time:

And here's Horizon Zero Dawn:

Guess which one has ~triple the polycount of the other. And most of my background detail is an HDRI texture, while there's is actual trees.
Ultimately I think it's still important to know whatever optimisations are available, but it's a rabbithole really and one that I'd suggest really looking into when it becomes a problem. For example, if your style is Low-Poly, to begin with, you may never need to bake HQ to LQ maps.