Pretty much. If it's a processed feed like starter, commercial mash or pellets, keeping it moist~as in paste consistency~works just as well and there won't be a need to drain it. What happened with mine is I'd place the starter in the bucket, cover it with the water, stir, and then next morning it will have soaked in and the grains will have swollen so much that it would just be paste instead of soupy. This worked out great because I didn't need to drain off any fluid and it was just the right consistency to feed easily.
After I added whole grains to the mix, I'd still get the swelling and absorption of the fermented fluid but it needed draining to remove the water from the grain mix before feeding as it would be more of a mealy consistency with water standing in it.
It really depends on what you are feeding, how often you are feeding and how much you are feeding whether you need to drain it each time or whether you need to keep it submersed at all times.
After I added whole grains to the mix, I'd still get the swelling and absorption of the fermented fluid but it needed draining to remove the water from the grain mix before feeding as it would be more of a mealy consistency with water standing in it.
It really depends on what you are feeding, how often you are feeding and how much you are feeding whether you need to drain it each time or whether you need to keep it submersed at all times.