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It’s more like “look at this shit”/“you seeing this?”/“whoa” for general stuff. Or sometimes with a slightly inappropriate joke or flirting the eyes acknowledge that and lessen it - like saying jk did back in the day.
In this context if I sent a contract to someone younger and they responded 👀 I might have to doublecheck if something was glaringly wrong with it.
A lot of people hate being “left on read” where they see a programmed read receipt but aren’t actually acknowledged. Or for messages without programmed read receipts it does that as well. The thumbs up is also supposed to end conversations quickly.