Sure, you can look at it like this, but I see a difference to all the graphics > gameplay games out there.
Elite 4 is David Braben's dream and he wants to make it as ambitious and groundbreaking as the first game was. Unfortunately today you can't make them with 2 people in 2 years at home like 30 years ago, so they're planning for an ongoing development for maybe 10+ years. Pretty much like WoW, except you can play it solo and it hopefully gets better with expansions.

At the moment it does better than other space sims: graphics, the flight model and realism (including the galaxy size). Like I said, if you like that, support it, if not, maybe later.