When one says a course is good because it "requires every club in your bag", I have always considered it to mean that the course has a good variety of distances so that it has short, medium and long par 3s, par 4s and par 5s.
Now obviously if designers want to, they can easily adjust the lengths of certain holes so that this criteria could be met. If the course is already very ordinary, I doubt changing the lengths of certain holes will cause a course to become significantly improved.
However, I do think that the inverse is true. Many good course designs will have a good variety of yardages. But not just because this is the goal, but rather because an imaginative architect will want to offer a variety of golf holes. Of course there are many great examples that do not meet this criteria.
When I am looking for a public course in my area that I will play with on a regular basis (or if I was looking for a private club to join) one of my criteria would be a good variety of holes. Although, if other features were outstanding this criteria could be overlooked. If I am planning on playing a course on a regular basis, it will be nice if that course will have short, medium, and long par 3s, par 4s, and par 5s. Now if I have an opportunity to play a great course on a regular basis, this criteria may lose its significance. But if I am comparing good courses in the same geographic area, this will be a criteria that I will take into account.
When I hear a course described as requiring every club in the bag, I consider that as just a way to describe that the course requires a variety of shots and that it does not seem contrived to achieve that variety.