[Rococo]

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I agree with your logic except for how you think small pp's lose value. I think large pp's lose value when stacks get deeper and small pp's value increase bc you have better implied odds to set mine vs a big stack.

I raised the button with my small pair because 1) I want to punish the UTG limp 2) Limping pp's late with only one limper imo is too weak especially if you can play post flop w/o flopping set. 3) I want to build a pot in case I do hit a perfect flop.

Thoughts?

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All pocket pairs lose starting value when stacks get really deep. They mostly lose value to hands that more easily make the nuts. In addition, preflop play diminishes in importance overall.

The difference is that, the shallower the stacks, the more big pocket pairs peak in value compared to other starting hands. Small pocket pairs peak in comparative value when stacks are a little deeper, but not super deep.

It must be the case that small pockets are less valuable at 700 BBs than they are at 200BBs.

The problem with your logic is that you hit a perfect flop, and you still weren't comfortable getting it all in. In that situation, I don't see why you want to juice the pot.