A plant that creats more biomass is not going to deplete soils. In fact it might restore soils by fixing more carbon from the atmosphere and adding more organic material in the form of roots and shoots.
The biggest problem with fertilization and why it is applied annually is that it is very mobile and washes away in the rain or breaks down or evaporates.
The main content of plant-created biomass comes from atmospheric CO2 and water, not from soil (well, roots extract water from the soil, but that's not what we mean by soil depletion). A significant minority is nitrogen, which either needs nitrogen-fixing plants (which extract it from atmosphere) or fertilization.
The biggest problem with fertilization and why it is applied annually is that it is very mobile and washes away in the rain or breaks down or evaporates.