Quite the contrary: I would say it is the degree of
simplicity, not sophistication, that determines manifestation, and the simplest of all things is nothingness.
You are adding too much into the picture.
Think of both peak and trough as on/off
phases, or pulses, of consciousness. In other words, as the Buddha found out by fathoming the 'unconscious', that it is
all conscious.
So too, is the universe manifested in 'on/off' phases. Now you see it; now you don't,
but it is always there, like the light bulb is always there, but there is no light until the switch is flipped.
Listen again to what Watts is actually saying:
"We should'nt really contrast existence with non-existence. The unconscious is, so to say, the part of experience which is doing the conscious, just as the trough manifests the wave, the space manifests the solid, the background [field] manifests the figure."
or, to put it another way:
"Everything comes out of nothing."