Release 1.0 was always a compromise. If Frontier had held back on release for another year (or even 6 months) who's to say that the game would ever have made it to release? If preorders were tailing off (which is likely) then funding starts to become critical. Frontier were never going to risk their entire business on Elite, so eating into the cash reserves may have been seen as too risky. As funding ran low, the team size would necessarily shrink so development pace would diminish. By releasing when they did, Frontier have made a good number of sales, enough that they've been able to
increase the size of the team. Reviews have been positive, which will push continual sales.
Elite: Dangerous isn't Star Citizen. There's no virtual ship store and no massively invested user base, so development funding is necessarily limited. We need to accept that what happened happened and that there were good reasons for it to happen like that. We're in a good place in that development is ongoing, and only time will tell whether the decision to release was the right one. I
hope that as new features roll out, those users who put the game down and moved on will come back for another go. It happens all the time in other MMOs, but the advantage ED has is that they won't have to
pay to come back.