“Smallest possible length” is a useful, albeit a very simplified way to conceptualize the Planck length. Granted, anything in quantum physics that isn’t a page full of equations can be described as “very simplified”.
More precisely, it is the smallest length that makes any sense to talk about using our current understanding of our universe. It is a little bit like trying to spend a billionth of a cent, the mere act of trying to think about it costs more than that.
It is possible a new theory might be able to go beyond Planck limitations, but current theory (mostly) works just fine without having to assume something more is out there.
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