Mine ranges from 2" to 5", with an average of about 3.5-4". It's been that way for 9 years. IMO, a minimum is target is about 3". Anoxic layer can begin as shallow as an inch deep.
It'll depend on who you ask I've seen public displays with sandbeds over a foot deep (some deeper for garden eel displays) and am not aware of any problems. There are those in the hobby that will suggest it's too deep and may encounter problems such as H2S production. But in my estimation, these problems are unlikely if there's enough nitrogen source and an active, healthy sandbed population.