Yes. For example "randomness." Seems mundane, but this simple intuitive concept can't actually be formally defined. I have yet to see an actual algorithm for a truly random number generator.
The profoundness comes from the fact that on the intuitive level we are all hyper aware of what random means. But on the formal level we have no idea what it is.
Alternatively, you think they're discussing something mundane, but it's actually profound.
After all, you think you're discussing something profound, but it might just be vocabulary.