This is the one thing ED has on EVE. You can switch to a first person view in EVE, but nobody does, because the game plays far better when viewed isometrically. I can't rock a flight stick over there. Ships don't have cockpits. And everything from combat to mining often involves multiple participants - something that wouldn't benefit at all from first person. In fact, when you have more than 100 people on the field simultaneously, being locked into a cockpit view would be crippling.
There were large battles in Jumpgate (upwards of 300 participants in a single instance was not uncommon during peak times), which generally provided even less sensor information (though sensor ranges were 5-10 fold greater) than ED does.
Everyone operated under the limitations of the cockpit view. The chaos of battle was real (well, real chaos, fantasy battle), and a big part of success was being able to coordinate and act through it. You either knew what you were doing and could intuit the flow yourself (with the assistance of good scouts and spotters), hung back and took orders from those who did, or went in blind and almost invariably found yourself alone against dozens of hostiles and were immediately deleted.
In larger engagements I typically flew a ranger (a fragile class of vessels that were also the fastest with the longest range sensors), providing early warning and target designation (the community was small enough that all the regulars knew all the faction leaders and top pilots by name) as fleets closed on each other. Once ranges became too close and that broke down, I then used the speed of the vessel to zoom in and out of enemy groups, baiting them into wasting consumables on counter attacks I'd (usually) survive. If someone needed to disengage (consequences to ship loss were real, so there was powerful incentive both to shoot down foes and not get shot down one's self), I'd do my best (and expend my own very limited munitions) to screen their retreat, then speed dock (probably lost more ships due to collisions with the docking tube while facing away from it to use the main thrusters to slow down than from enemy action) at the nearest friendly station to rearm before racing back to the fight.
Anyway, the first person constraints, as well as the immersion, are things that appeal to me. The increased situational awareness of a third person view is advantageous, but not always more fun.