A TV series would be ideal, but talented writers aren’t easy to come by. The Expanse succeeded because it had skilled writers and a strong foundation to build upon. However, producing a high-quality sci-fi show today would likely cost around $5 million per episode, so if one is ever made, it had better be exceptional right from the start.
The cost is ultimately the tricky bit, definitely. There
are sci-fi stories you can tell with a much lower budget, but if you want enough CGI and other effects/location budget to do the sort of flashy spaceships, planets which aren't a gravel quarry in Wales, etc. that Elite's setting and aesthetic implies, the requirements add up pretty fast.
- if Frontier had spare tens of millions they could likely spend them a lot more productively and with a clearer return on direct development of Elite Dangerous
- if someone
else has spare tens of millions it's not really clear what they get from the Elite setting that they'd want to spend some of them on licensing it (I think most of the licensed book authors covered their costs, but none of them are millionaires as a result either because the Elite fan base just isn't that large)
What would you tell somebody when being asked what is happening in this universe if somebody asks you to explain the world of this game?
Partly you don't need to. Star Trek was very popular but rarely focused on the galactic big picture of how the diplomatic relations between the various major powers were going, or involved new technologies with galaxy-changing implications. They came up occasionally but a lot of the stories were "the ship visits a new planet and stuff happens to them there" episodes without (at least in the original series) any long-running plot. Occasionally you find out things about the wider galaxy as a result, but all the work to tie those off-hand references into a more defined setting happened later. Lots of sci-fi series have worked in a similar way.
Avoiding looking too much at the wider setting details is probably a good thing for Elite fiction - it works fine if you're just dealing with that "weird things which happen to a pilot" sort of story, and the (rarer) attempts to tell epic sci-fi stories of galactic politics and war start running into plausibility issues very quickly because the high-level setting as shown in-game is complete nonsense. Which, sure, you can agree not to ask questions about in the interests of enjoying the work as-is, but it certainly means the setting isn't adding any value to the story.