I agree. The dead, thick crusts (as mentioned several times before) likely protect the new skin layers from irritation, making it a less likely that skin growth is 'boosted' again to protect the skin.
Less irritation allows for slower skin growth, which in its turn allows more filaggrin and keratin-complexes to form in newer skin cells, making for a stronger barrier that gives more resistance to irritation/ drying out. Although there are of course many more things that play a role in skin growth, I think filaggrin and keratin needed special attention.
Consider that in the dead skin cells that are ready to peel, keratin is (normally) about 62 - 81% of the total protein in the cell!